Future Asset Group, a South Korean finance and blockchain company, has acquired 97.15% of Korbit and plans to transform it into an intelligent investment platform.

BlockBeats News, July 24th - Future Assets Group from South Korea has completed the acquisition of 97.15% of the shares of the well-established South Korean cryptocurrency exchange Korbit, and plans to rename it to Digital X. The transaction was completed after receiving approval from the South Korean Fair Trade Commission, and the company currently has no plans to acquire the remaining shares.

The Future Assets Group stated that Digital X will be developed as a "Smart Investment Platform," integrating RWAs, security token offerings, stablecoins, traditional assets, and digital assets into the same investment ecosystem, and interconnecting knowledge, information, and in-depth investment research. The "X" in the name represents the unknown future and infinite possibilities arising from the intersection of different forms of value.

Korbit currently holds less than 1% of the market share in the South Korean domestic crypto market, far behind Upbit and Bithumb. Future Assets stated that its goal is not to surpass other exchanges, but to leverage its own global investment experience and Korbit's digital asset capabilities to promote the stable and sustainable development of the digital asset industry in South Korea and globally.

Future Assets also plan to enhance investor education, research capabilities, and institutional-grade infrastructure, and strictly adhere to AML, KYC, and anti-fraud detection standards in all operations, to simultaneously serve institutional clients and retail traders.