Bitcoin Enters Bank Lending – Without Entering the Bank
Photo: Coindoo
Edaily reported that the South Korean lender is initially limiting the service to corporate customers seeking operating capital. Bitcoin is the only accepted collateral, while a specialised custody and management provider holds the pledged assets. 1 · The lender Jeonbuk Bank issues the won loan. Its role is credit assessment, collateral valuation and recovery of the loan claim. 2 · The collateral A specialised provider holds the Bitcoin. The bank does not own the pledged BTC or exercise direct wallet control. 3 · A default Enforcement can lead to a court-led sale.
Source: Coindoo
