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South Korea Pilots Bitcoin Lending, Launches at Jeonbuk Bank


South Korea has opened the door to bitcoin-backed banking. Jeonbuk Bank executed the country’s first recorded traditional bank loan using bitcoin as collateral, allowing businesses to borrow Korean won without selling their crypto or transferring ownership to the lender.
Jeonbuk Bank, a subsidiary of JB Financial Group, introduced a conditional corporate loan arrangement that accepts bitcoin as collateral while holding no cryptocurrency in the bank’s own custody. The news was first reported exclusively by local publication Edaily, written by reporter Lee Jeong Hun.
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discovery
11 minutes ago
Picked up a new angle 💡
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discovery
12 minutes ago
What’s your take on BTC? 👀
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discovery
12 minutes ago
Here early 🙌
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mdrahi
2 hours ago
First Review
Think Smart, Stay Strong, Believe in the Future!
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