Jeonbuk Bank Launches South Korea’s First Bitcoin-Backed Won Loan

For Korean companies that have been sitting on Bitcoin holdings, this changes the calculation significantly. Until now, accessing liquidity from those holdings meant selling them. In addition, Jeonbuk Bank is offering a different path: borrow against the Bitcoin, keep the position, and use the loan proceeds to run the business. Jeonbuk Bank does not hold or manage the Bitcoin directly. A qualified virtual asset service provider handles custody, complying with South Korea’s regulatory standards, including ISMS certification and the Virtual Asset User Protection Act. ISMS is South Korea ’s government-backed information security management certification.

Source: TheNewsCrypto