The document describes a weldable thermoplastic membrane with an active polymer core layer for waterproofing applications. The core layer is made of bonded polyolefin aggregates that self-seal punctures and stop water migration. The membrane has superior chemical resistance, puncture resistance, and hydrostatic resistance. It is installed either with the core layer facing down against concrete or facing up, and the thermoplastic seams are heat welded to form a monolithic, waterproof barrier.