The Jeonbuk Bank Ltd

First, a South Korean bank starts lending against Bitcoin.

Jeonbuk Bank, a subsidiary of JB Financial Group, has begun offering won-denominated loans backed by Bitcoin.

A Korean financial daily reported it on the 12th October as the first such bank loan in South Korea.

For now, the loans are limited to corporate customers raising working capital.

Francisco Rodriguez out of CoinDesk.

Jeonbuk Bank has started offering Bitcoin-backed loans to corporate clients, becoming the country's first bank to let firms borrow cash against their crypto holdings.

The South Korean bank, a unit of JB Financial Group, will issue loans in the country's fiat currency, the won, with proceeds limited to business operating costs according to local news outlet Edaily.

The bank official or a bank official confirmed to a local outlet, I can't pronounce it, that a loan has already been executed, but declined to name the borrower.