Jeonbuk Bank in South Korea has become the first traditional bank in the country to offer loans backed by bitcoin, available exclusively to corporate clients. The loans are issued in Korean won and use third-party custodians to hold the bitcoin collateral, with court-ordered sales used to recover funds if borrowers default. This new product leverages recent legal changes allowing digital asset enforcement and could encourage wider adoption of crypto-backed lending in South Korea's banking sector. The bank may expand the service based on market demand and regulatory developments.
South Korea's first traditional bank loans backed by bitcoin provide context for cryptocurrency market activity on Pluang as of Oct 12, 2026 17:41 WIB. On this date, 37 of 50 major cryptocurrencies rose while 12 fell. Notable movers include LINK at Rp238.909 with a 3.78% increase and a typical hold time of 63 days, SNX at Rp4.466 up 3.74% but with 100% sell order activity, and SUSHI at Rp4.338 up 3.54% with 70% buy order activity.
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