Dolomite added $100 million in Bitcoin collateral, connecting to Concrete's BTCcx

The decentralized trading and lending platform Dolomite announced that it has integrated $100 million worth of Bitcoin-backed collateral into its on-chain lending market through Concrete's BTCcx infrastructure, and has activated borrowing functionality based on this collateral.

BTCcx is an on-chain token issued and managed by Concrete, representing the underlying Bitcoin held in qualified custody by BitGo, deployed on the Ethereum network. Concrete is responsible for the issuance and full lifecycle management of the token, and provides BTCcx as collateral for Dolomite's actively managed borrowing positions, allowing borrowing to be completed without the need to sell or move the underlying Bitcoin out of custody in advance.

This deployment marks the expansion of the collaboration between Concrete and Dolomite from WLFI to Bitcoin, introducing another mainstream institutional asset into Dolomite's lending market through its AssetCX framework.