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Home›Crypto›Regulation›South Korea launches bitcoin-backed bank loans for the…

South Korea launches bitcoin-backed bank loans for the first time

Reported · Written up by our desk · Regulation

CoinDesk reports that South Korea has introduced its first set of traditional bank loans backed by bitcoin.

The loans are structured to use third-party custodians to hold the bitcoin, and they include court-ordered sales of the crypto if borrowers default.

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Sources

CoinDeskSouth Korea just got its first traditional bank loans backed by bitcoin

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