Coinone Pays Deposit Usage Fees to 46,000 Customers

Payment of usage fees worth a total of 35 million won

Coinone, a virtual asset exchange, announced on the 12th that it has paid deposit usage fees worth approximately 35 million KRW to 46,000 of its customers since July.

The deposit usage fee is a type of interest concept where a portion of the operating profit generated by depositing the KRW balance in the exchange account into a bank is returned to the customers. Coinone currently applies an annual deposit usage fee rate of 2.3%.

Coinone was the first in the industry to start paying deposit usage fees from July 20, when the fees were first generated, through its unique 'Receive Interest Immediately' feature.

Cha Myung-hoon, CEO of Coinone, stated, "To guarantee customers' choice regarding the payment cycle of deposit usage fees, we operate two methods: regular payment and on-demand payment," adding, "We will continue to focus on enhancing customer benefits and protecting their rights by introducing various services and policies."