Source: Crypto.news ↗
A South Korean bank is lending against Bitcoin. What happens if BTC falls?
Translation unavailable. Please try again.
What the source reports
Jeonbuk Bank has begun making won loans to corporate borrowers against Bitcoin held by a specialist custodian. A drop in BTC does not put coins on the bank’s own balance sheet. It does, however, test the lender’s valuation, collateral monitoring…
Read the original report on Crypto.news ↗Live market context
Market figures are live reference data, not evidence that this report caused a price movement. Not financial advice.
Related news
Open news desk →Jeonbuk Bank becomes first South Korean lender to offer Bitcoin backed loans
South Korea’s Jeonbuk Bank has introduced the country’s first bank issued won loans backed by Bitcoin, allowing corporate customers to use their cryptocurrency holdings as collateral for business financing. According to an October 12 report by local news outlet Edaily,…
Why is Bitcoin price stuck below $85,000?
Bitcoin's daily moving averages remain bullish, while the four hour MACD and Chaikin Money Flow indicate that momentum maybe improving after the recent decline.
Bitcoin shrugs off ETF outflows to trade above $84,000 as oil falls
Bitcoin is holding on to its weekend gains as oil trades lower. ETFs lost over $600 million in outflows last week.