The Open LedgerThe Wrap
Jeonbuk Bank launches bitcoin-backed corporate loans in South Korea
The lender issues Korean won against bitcoin held by a registered crypto custodian and enforces repayment through a court-ordered collateral sale.
At a glance
Jeonbuk Bank has launched bitcoin-backed corporate loans in South Korea, issuing Korean won against bitcoin held by a registered crypto custodian, not the bank itself.
If a borrower defaults, repayment is enforced through a court-ordered sale of the collateral.
Jeonbuk Bank has launched bitcoin-backed corporate loans in South Korea, issuing Korean won against bitcoin held by a registered crypto custodian, not the bank itself.
If a borrower defaults, repayment is enforced through a court-ordered sale of the collateral.
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