Hello. This is Upbit, the most trusted digital asset exchange.
Thank you for always using Upbit. We would like to inform you about the changes to the Coin Lending Service Terms of Use.
These amended terms will be effective as of May 8, 2026.
Please refer to the details below for the specific changes to the terms.
■ Changes *Cases where only article numbers have been modified due to the insertion or deletion of new clauses are omitted.
1. Article 2 (Definitions) Clause 5
"Lending Ratio" refers to "(KRW equivalent value of lent assets / Total value of collateral) * 100%". In this case, the KRW equivalent value of digital assets follows Upbit's current price based on the KRW market.
2. Article 3 (Conclusion of Lending/Borrowing Contract, etc.) Clause 2
When it is necessary to convert and calculate digital assets to KRW in the service, as in the following subparagraphs, Upbit's current price based on the KRW market shall be followed.
3. Article 3 (Conclusion of Lending/Borrowing Contract, etc.) Clause 2 Subparagraph 1
Before Amendment:
After Amendment: To prevent the impact of temporary sharp fluctuations in Upbit's digital asset prices and to protect members, the company may use an 'evaluation price' calculated by reflecting the current price of Upbit's KRW market (hereinafter referred to as "current price"), and the specific calculation method for the evaluation price will be separately announced by the company within the service.
4. Article 3 (Conclusion of Lending/Borrowing Contract, etc.) Clause 2 Subparagraph 2
When applying for borrowing under Article 5, the KRW equivalent value of collateral assets (digital assets) at the time of application completion is calculated to determine the quantity of lent assets according to the lending ratio.
5. Article 3 (Conclusion of Lending/Borrowing Contract, etc.) Clause 2 Subparagraph 3
Before Amendment:
After Amendment: When calculating the 'Lending Ratio', the KRW equivalent value of lent assets and collateral assets shall follow the evaluation price.
6. Article 3 (Conclusion of Lending/Borrowing Contract, etc.) Clause 2 Subparagraph 4
When forced repayment occurs under Article 7, the KRW equivalent value of lent assets and collateral assets (digital assets) at the time of forced repayment execution is calculated and deducted from the collateral assets.
7. Article 3 (Conclusion of Lending/Borrowing Contract, etc.) Clause 2 Subparagraph 5
When collecting fees under Article 9, the KRW equivalent value of lent assets and collateral assets (digital assets) at the time of each fee deduction is calculated and deducted from the collateral assets.
8. Article 5 (Determination of Lent Asset Quantity) Clause 1 Subparagraph 2
Members can apply to use the service by determining the type and quantity of digital assets to borrow. The requested quantity is calculated based on the real-time market price of Upbit's KRW market. At this time, the displayed requested quantity is merely for reference and does not represent the actual quantity to be paid, and the confirmed quantity paid as lent assets is determined according to the market price at the time the procedures of this clause are completed.
9. Article 12 (Precautions) Clause 2
As digital asset prices fluctuate, (i) the digital asset price at the time of loan application and at the time of its completion may differ, which may cause a difference between the requested quantity and the confirmed quantity of lent assets. (ii) If the lending ratio reaches 95%, forced repayment may be executed at an unexpected time for the member, and a forced repayment fee may be charged concurrently.
Upbit will always strive to provide a safe trading environment.
Thank you.
