Concrete has arranged to borrow funds using $100 million worth of Bitcoin held in custody by BitGo as collateral. The borrowing is facilitated by Dolomite, but any liquidation of the collateral requires an offchain settlement process rather than an immediate sale on the blockchain. This setup links decentralized finance (DeFi) borrowing with Bitcoin custody, introducing a unique liquidation mechanism that depends on BitGo's custody procedures. The $100 million figure refers to the Bitcoin collateral amount, not the borrowed sum itself, highlighting the separation between borrowing access and collateral management.
Concrete's Bitcoin-backed borrowing is the story's subject. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Oct 22, 2026 15:21 WIB: out of 50 major cryptocurrencies, 5 rose and 44 fell today. Notable movers include COTI at Rp198 with a -4.92% change and 62% sell order activity, AVAX at Rp166.075 with a -4.81% change and 67% buy order activity, and DOT at Rp19.941 with a -4.77% change and 75% sell order activity.
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