Korbit rebrands as DigitalX, matching new parent company name

Digital asset exchange Korbit will change its service name to DigitalX, aligning it with the name of its operating company.

According to industry officials, Korbit announced that it will switch its service name from Korbit to DigitalX starting Wednesday. The app's name and icon will also be redesigned to match the new company name.

The service name change had been expected since Korbit was folded into Mirae Asset Group. Earlier, on Aug. 11, Korbit completed the legal registration to change its corporate name from "Korbit Co., Ltd." to "DigitalX Co., Ltd." At the time, the company said it would separately change the exchange's service name at a later date.

Park Hyun-joo, chairman and global strategy officer of Mirae Asset, said in a letter to employees in July that the name DigitalX carries deeper meaning. "X represents an unknown future and the infinite possibilities that arise when different values intersect and merge," he said.

Park also recently told DigitalX employees and executives at an introductory meeting that he hoped "DigitalX will grow into a global investment platform," adding that the company needs to expand its product lineup to include stablecoins, real-world assets and STOs, and restructure its organization accordingly.

The official website address will also change along with the service name. Visitors who use the existing web address will be automatically redirected to the new one, but users logging in for the first time after Wednesday will need to sign in again. Chart settings that users previously configured on the trading screen will also be reset.

App market reviews and registration information with outside institutions will be updated gradually. As a result, the old name "Korbit" may continue to appear alongside the new name in outbound communications, such as notification messages and texts, for some time after the transition.

Meanwhile, existing Korbit users' assets, transaction records and account information will remain unchanged, and deposit, withdrawal and trading methods will stay the same.

Korbit also urged users to be cautious of phishing and impersonation attempts that could exploit the transition period. "Phishing sites or smishing messages impersonating either the existing service name (old domain) or the new service name (new domain) could appear," the company said, adding that users should verify the official address before proceeding.