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Jeonbuk Bank Launches Bitcoin Loan Program
South Korea's Jeonbuk Bank has begun offering won loans to companies secured by bitcoin collateral, marking a first for a commercial bank in the country. A third-party custodian holds the bitcoins, and enforcement rules allow the bank to recover through court-ordered sales without physically taking the coins. Details on loan size, rate, and loan-to-value were not disclosed. A representative from the bank confirmed that a loan has already been made.