Dolomite Integrates $100 Million in Concrete Bitcoin Collateral for Institutional Borrowing

DeFi lending protocol Dolomite has integrated $100 million in Bitcoin-backed collateral, enabling Concrete to borrow against the assets. The arrangement utilizes BTCcx, Concrete's custody-native token backed 1:1 by Bitcoin stored in qualified custody at BitGo and issued as ERC-4626 vault shares on Ethereum. Concrete acts as the exclusive borrower against the pool, establishing a dedicated institutional credit facility. Under this setup, default liquidations are handled through offchain custody settlements at BitGo rather than traditional automated onchain forced sales, mitigating market slippage.