South Korea's Jeonbuk Bank has launched a corporate loan product secured by Bitcoin held with a third-party custodian, marking a first in the country. The bank does not take possession of the Bitcoin even if the borrower defaults; instead, it recovers funds through court-ordered sales under new enforcement rules effective October 1. The loan currently accepts only Bitcoin as collateral and is limited to business operating funds, with terms like loan size and interest rate undisclosed. This move is part of the bank's 'Crypto Bank' strategy, potentially expanding collateral options based on regulatory changes and market demand.
South Korea's Jeonbuk Bank's new Bitcoin-backed loan product is the story's subject, with Pluang market data providing context. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Oct 12, 2026 16:41 WIB: out of 50 major cryptocurrencies, 37 rose and 12 fell today. Notable price changes include AVAX at Rp197.000 (+6.81%), ONE at Rp34 (-5.80%), and ZIL at Rp67 (+5.77%).
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