Future assets plan to deploy US$109 billion in digital assets business...

Why does Mirae Asset want to build a US$109 billion digital asset business?

South Korea's Mirae Asset Financial Group plans to build a digital asset business with a scale of 150 trillion won (approximately US$109 billion) around Digital X, which has become one of the most ambitious goals since a large traditional financial group entered the blockchain market. The plan was unveiled by Future Assets founder and chairman Park Hyeon-joo at an employee event in Seoul on Wednesday. The group hopes that Digital X will become the core of its next phase of growth, with its business scope covering cryptocurrencies, stablecoins, tokenized physical assets and security-based tokens.

Future Assets is also considering injecting an additional capital of up to 300 billion won (approximately US$218 million) into the business. A third-party rights issue of 200 billion to 300 billion won may occur in the first quarter of 2027, depending on the speed of earnings improvement. Park said the group hopes to achieve profitability by 2027, which means Digital X will need a relatively short time to transform its expansion plans into a sustainable business. He said: "Our primary goal is to make Digital X the core pillar of 'Future Assets 3.0'and expand the scale of the digital asset business to 150 trillion won with the group's customer assets of 1500 trillion won."

What exactly does Digital X do?

Digital X is expected to focus on four areas: cryptocurrencies, stablecoins, physical assets and security-based token issuance. The company also plans to tokenize assets such as gold, silver and electricity, extending its business ambitions beyond traditional cryptocurrency transactions. This strategy stems from Mirae Asset Consulting's acquisition of a 97% stake in South Korean cryptocurrency exchange Kbit in July. The exchange's operating company was subsequently renamed Digital X, giving Future Assets a ready-made trading platform to build its digital asset operations.

Future Assets does not appear to view the exchange as a stand-alone cryptocurrency platform, but rather plans to build a broader financial infrastructure business. Digital X expects to develop investment products and services related to digital assets, make its own investments, and build what the group calls an "on-chain finance" ecosystem that leverages blockchain technology. Tokenized physical assets may be particularly important for this model. Gold and silver already have mature investment markets, and the tokenization of electricity has pushed Digital X into a relatively immature area where blockchain can be used to represent ownership or economic interests related to energy assets.

Investor revelation

Future Assets does not view digital assets as a small extension of its brokerage business. The 150 trillion won target shows that it wants blockchain-based products to become the main distribution and investment channel connecting its existing customer base.

Can future assets transform traditional assets into on-chain growth?

The scale of Future Assets 'existing business gives Digital X an advantage that most independent cryptocurrency companies do not have: access to a large number of traditional financial customers. Park Hyun-Ju said that the group manages approximately 1500 trillion won in customer assets, which provides a potential distribution foundation for tokenized securities, stablecoins and other blockchain-based investment products. But this does not mean that these assets will automatically move onto the chain. Customers, regulators and institutional counterparties still need products that provide significant economic advantages over traditional securities and payment systems. Liquidity, custody, pricing and interoperability will also determine whether tokenized assets attract significant transaction volume.

Achieving profitability goals in 2027 adds another test. Building encryption infrastructure may require significant investments in technology, network security, compliance and market liquidity before large-scale revenue can be achieved. Digital X needs to balance investment with the group's ambition to rapidly move into multiple digital asset classes simultaneously. A possible capital injection will provide additional resources to the business, but its timing will depend on improving earnings. This will further expand with Digital X's ability to demonstrate that Korbit's acquisitions and new product strategies can generate commercial returns.

Can Digital X become a bridge between traditional and crypto markets?

Park Hyun-joo's long-term goal is to build a global platform with Digital X as its core, combining traditional assets with digital assets. If successful, the model could allow future assets to pass through a more integrated financial ecosystem, while offering both traditional securities and blockchain-based products. This strategy also shows that traditional financial groups are entering the crypto space in a way that is different from the exchange-led model that dominated industry growth in the early stages. Future assets do not rely mainly on token transaction fees, but explore stablecoins, tokenization, security-based tokens, own investments, and financial products built around blockchain infrastructure.

The US$109 billion target ultimately depends on how future assets define the size of its digital asset business and how quickly customers can accept products developed by Digital X. The acquisition of Korbit provides the group with an operating platform, but the greater opportunity lies in its ability to connect that infrastructure with its existing asset management and investment businesses. If this integration is successful, Digital X may become a channel to introduce some traditional customer bases for future assets into tokenized finance. The more difficult task will be to transform the group's vast pool of traditional assets into lasting digital asset activities, rather than just setting a grand superficial goal.