MEXC Ventures reviews Jeonbuk Bank's first Bitcoin-backed loan in Korea
- —Jeonbuk Bank issued Korea's first bank won loan collateralized by BTC
- —The bank does not hold the coins; a licensed custodian safekeeps them under the Special Financial Information Act
- —LTV, interest rate, margin-call terms and loan size were not disclosed
- —Regulators are reviewing whether the deal conflicts with a 2017 ban on banks holding crypto
Why it matters: If regulators approve the structure, Korean banks could accept Bitcoin as collateral, creating a new source of liquidity for the market.
Source: TokenPost
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