A big challenge and risk today is using Bitcoin in DeFi. Because the Bitcoin blockchain does not natively communicate with other blockchains, there isn't a secure way to transfer, deposit, or lend your Bitcoin out without entrusting a custodian such as wBTC and opening yourself up to smart contract and third-party risk. Institutional services, such as Fireblocks, charge fees for holding your collateral while you use your deposit to trade against or create other structured financial products. Banks, exchanges, and lending desks are at the mercy of custodians and clearing houses who hold the private keys to YOUR Bitcoin.