Coinone Launches Virtual Asset Lending Service "Coin Borrowing"

On September 15, Coinone announced the launch of its virtual asset lending service, "Coin Borrowing." This new service incorporates the "Virtual Asset Lending Service Guidelines" announced by financial authorities earlier this month, establishing a robust user protection system.

"Coin Borrowing" allows customers to borrow virtual assets using their Korean won holdings as collateral. Customers can borrow virtual assets starting from a minimum collateral amount of 50,000 won, up to 82% of their collateral. Each individual can borrow up to 30 million won per transaction. The entire process, from application to repayment, is automated. The service is available 24/7, 365 days a year, allowing users to access it whenever needed.

The maximum lending period is 30 days, with a daily usage fee of 0.05%. The fee is collected in a lump sum at the time of repayment. Borrowed assets can be freely traded and withdrawn, and repayment can be made at any time. Currently, only one type of asset, Bitcoin (BTC), is available for lending, but the company plans to expand the range of supported assets in the future.

Given the nature of lending services and the potential for liquidation due to sharp price drops, Coinone has implemented various measures to minimize user risk. To use Coin Borrowing, customers must read the relevant guidance and complete a quiz to achieve a certain score, ensuring they fully understand the service structure and investment risks.

Additionally, to further mitigate risk, the company has introduced pre-liquidation risk notifications and an automatic "averaging down" feature. The automatic averaging down function increases the collateral amount automatically by utilizing the customer's holdings when the risk threshold is approached. Customers can choose whether to enable this feature and can also view their averaging down history.

Meanwhile, to celebrate the launch of the service, Coinone is holding a customer event with a total prize pool of 10,000 USDT. From 9:00 a.m. on this day until the 24th, 7,000 USDT will be distributed equally among all customers who use the Coin Borrowing service. Additionally, customers who apply with collateral of 10 million won or more will share an additional 3,000 USDT equally. The benefits are scheduled to be distributed on September 26. Each benefit will not be awarded redundantly.

Lee Sunghyun, CEO of Coinone, stated, "Coin Borrowing allows you to secure investment funds while maintaining your assets and provides an opportunity to seek profits even in a declining market. We hope you will use the Coin Borrowing service to explore new investment opportunities and experience strategic investing."

This content was produced with the assistance of AI translation services.