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South Korean bank launches Bitcoin-backed business loans: Report
· By MyCryptoSignal Editorial · 83 words
Cointelegraph reports that Jeonbuk Bank has started providing Bitcoin-backed loans to its corporate customers, with the cryptocurrency being held by a third-party custodian as collateral. This development implies that the bank is exploring alternative forms of collateral for business loans, using a third-party custodian to manage the Bitcoin. The use of Bitcoin as collateral for loans may have implications for the crypto market, as it represents a new use case for the cryptocurrency.
Read the full story at Cointelegraph: https://cointelegraph.com/news/south-korea-jeonbuk-bank-bitcoin-backed-business-loans
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Source: Cointelegraph — see our editorial policy.
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