[Provided by Digital X]
[Provided by Digital X]

The operating entity of virtual asset exchange Korbit has completed a corporate name change to Digital X, accelerating its rebranding ahead of full integration into Mirae Asset Group.

According to Korbit, the company finalized registration of its corporate name change from Korbit Co. to Digital X Co. on Tuesday. The "Korbit" brand name used for its digital asset trading service is also set to change at a later date.

The name change brings no immediate changes to user-facing services. Names and operating methods across customer touchpoints — including the app, website and customer support — will remain as they are. The way user assets are held and who handles personal data will not change either.

Korbit urged users to be especially vigilant against phishing attempts exploiting the name change, saying the company will never ask users for passwords, one-time passwords (OTPs) or asset transfers on the grounds of a corporate name change.

With telecommunications fraud on the rise, the company also asked users to be wary of phone calls, text messages and SNS contacts impersonating the exchange.

"Digital X Co. is preparing its next steps under its new name," the company said. "We will continue to do our best to deliver greater value to our users."

The name change is tied to the ongoing share acquisition process for Mirae Asset Group's integration. Mirae Asset Consulting disclosed on July 21 that it plans to acquire an additional 5.09 percent stake on top of the 92.06 percent it had originally agreed to purchase, bringing its total planned holding to 97.15 percent.

Park Hyun-joo, global strategist (GSO) of Mirae Asset Group, unveiled the new name Digital X in a letter to employees on July 23.

Park explained the meaning behind the name, saying the "X" represents the unknown future and the infinite possibilities that emerge when different values intersect and converge.

Mirae Asset Group plans to expand its digital asset business on the foundation of Korbit, with a vision to build an investment ecosystem connecting real-world asset (RWA) tokenization, STO and stablecoins.

"We will create an investment ecosystem where RWA tokenization, STO and stablecoins coexist organically," Park said. "By combining Mirae Asset's global heritage built over more than 30 years with Korbit's on-the-ground expertise, we will reinvent ourselves as an organization that proactively defines the next era of digital assets."


kyoung@heraldcorp.com