Jeonbuk Bank in South Korea has initiated the country's first traditional bank loan secured by bitcoin, allowing corporate borrowers to use bitcoin as collateral without the bank taking custody of the cryptocurrency. Under new rules effective October 1, 2026, the bank can recover collateral through court-supervised sales if borrowers default, while licensed third-party custodians hold the bitcoin. This pilot program currently serves corporate working capital needs and marks a significant step in integrating digital assets into traditional finance in South Korea. Details on interest rates and loan terms remain undisclosed as the bank plans to refine its approach before expanding services or cryptocurrencies accepted.
South Korea's Bitcoin lending experiment at Jeonbuk Bank is notable as a financial innovation. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 13, 2026 05:02 WIB: out of 50 major cryptocurrencies priced on Pluang, 5 rose and 44 fell. Among them, AAVE dropped 6.37% to Rp2.841.525 with 95% sell orders, CRV fell 5.81% to Rp6.288 with 91% buy orders, and GRT declined 5.68% to Rp465 with 78% sell orders.
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