NEW: 🇰🇷 South Korea’s Jeonbuk Bank is reportedly offering companies loans in won backed by bitcoin—the first such move by a commercial bank in the country, according to local media.
The bitcoin is held by a third-party custodian. Rule changes taking effect on Oct. 1 allow the bank to recover unpaid loans through court-ordered sales without taking custody of the bitcoin itself.
The loan amount, interest rate, and loan-to-value ratio have not been disclosed.
A bank representative told Chosun that one loan has already been issued.
Source: https://x.com/BitcoinNewsCom/status/2110060479125045719
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