Dolomite has added $100 million in Bitcoin-backed collateral to its on-chain lending market through Concrete’s BTCcx infrastructure and enabled borrowing against the collateral. According to ChainCatcher, BTCcx is an Ethereum-based token issued and managed by Concrete that represents Bitcoin held in qualified custody by BitGo.

Concrete manages BTCcx’s issuance and lifecycle, making the token available as collateral for actively managed borrowing positions on Dolomite. Borrowers can access loans without selling the underlying Bitcoin or moving it out of custody.

The deployment expands Concrete and Dolomite’s collaboration from WLFI to Bitcoin, following WLFIcx, and brings another major institutional asset to Dolomite’s lending market through Concrete’s AssetCX architecture.