Digital asset exchange Korbit will change its service name to "Digital X (DIGITAL X)" from Sept. 16. It is moving to fully change the exchange name and the branding of its website and application after combining with Mirae Asset.

Korbit said in a notice on Tuesday that it will change its service name from Korbit to Digital X from Sept. 16.

The website address will also change along with the service name. Users will be able to access the new address from the morning of Sept. 16, and those who connect through the existing address will be automatically redirected to the new website.

The mobile app name will also change from Korbit to Digital X, and its icon will be replaced to match the new brand. Existing app users can use the changed service through an update without needing to download a separate app again.

Despite the brand change, existing users' assets, transaction history and account information will remain unchanged. Deposit and withdrawal and trading methods will also remain the same.

Chart settings set on the trading screen will be reset. However, drawings that users saved directly on charts will be retained, the company explained.

Korbit urged users to be cautious about phishing and smishing that may exploit the simultaneous change of service name and domain.

It also stressed that users should not download the app via separate installation files or links of unclear origin, and asked them to use official app markets such as the Google Play Store and the App Store.

The brand change is part of a business reorganisation Korbit is pursuing with Mirae Asset. The new brand applies "DIGITAL X by Mirae Asset" to put its link with Mirae Asset front and centre.