South Korea’s Jeonbuk Bank has executed a corporate loan backed by Bitcoin, while Bulgaria’s First Investment Bank (Fibank) is preparing to introduce cryptocurrency investments to more than one million customers through a partnership with Bitpanda Enterprise.
The developments bring digital assets into two established banking activities: secured corporate lending and retail investment distribution. Jeonbuk Bank has already completed a Bitcoin-collateralized transaction, while Fibank’s offering is scheduled to launch in early 2027.
Jeonbuk Bank Executes Bitcoin-Backed Corporate Loan
Jeonbuk Bank, a subsidiary of JB Financial Group, has completed what is reported to be South Korea’s first Bitcoin-backed loan by a domestic bank.
The transaction involved a corporate borrower obtaining Korean won financing for business operations. Bitcoin served as collateral, with a specialized digital-asset custodian holding the pledged cryptocurrency rather than Jeonbuk Bank taking direct possession.
A bank representative confirmed the loan had been executed but declined to identify the borrower. The institution has not announced a broadly available Bitcoin lending product or opened the service to retail customers.
The transaction follows changes to South Korea’s civil enforcement framework. The Supreme Court’s Civil Enforcement Rules amendment proposal established procedures covering the seizure, transfer and sale of virtual assets and claims to their transfer.
Those provisions provide a legal mechanism for recovering debt against digital-asset collateral, with the revised framework taking effect on October 1.
The lending initiative follows an earlier period of regulatory restrictions on crypto lending products offered by cryptocurrency exchanges, where authorities raised concerns about leverage and forced liquidations.
Bulgaria’s Fibank Partners With Bitpanda for Crypto Investing
Bulgaria’s First Investment Bank has signed a partnership with Bitpanda Enterprise to integrate cryptocurrency investments into its My Fibank mobile banking application.
The agreement, announced on October 7, will make Fibank the first Bulgarian bank to incorporate crypto investing directly into its existing banking app.
More than one million customers are expected to gain access to digital assets alongside their conventional banking services when the integration launches in early 2027.
Bitpanda Enterprise will provide the underlying investment infrastructure, while Bitpanda will serve as the exclusive provider of crypto-asset services.
Nikola Bakalov, Fibank’s CEO, described the partnership as an expansion of the bank’s digital financial services, emphasizing the importance of working with an established European technology provider under applicable regulatory requirements.
The companies have not disclosed the complete list of supported cryptocurrencies, trading fees or specific customer eligibility conditions.
Crypto Infrastructure Expands Across Traditional Banking
The two developments extend existing efforts to integrate cryptocurrency infrastructure into conventional financial services.
Jeonbuk Bank has also participated in South Korea’s Project Pangea banking initiative, which involves financial institutions exploring blockchain-based foreign exchange settlement infrastructure.
Bitpanda Enterprise already supplies digital-asset services to financial institutions including N26, selected Raiffeisen banks and RAKBANK, using infrastructure that supports investment access, liquidity and custody.
Jeonbuk Bank has not disclosed the loan amount, interest rate or collateral requirements for its completed transaction. Fibank’s crypto investment service remains scheduled for early 2027, with no specific launch date announced.
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