Jeonbuk Bank Reportedly Offers Bitcoin-Backed Corporate Loans
South Korea’s Jeonbuk Bank has reportedly introduced loans for corporate clients that use Bitcoin as collateral held by an outside custodian.
South Korean lender Jeonbuk Bank has started providing Bitcoin-backed financing to corporate customers, according to a Cointelegraph report.
Under the reported arrangement, borrowers pledge Bitcoin as security for their loans. An external custodian holds the cryptocurrency used as collateral.
The report provided no details on interest rates, borrowing limits or eligibility requirements beyond the offering’s focus on corporate clients.
Source: Cointelegraph
