Allo.xyz, a Dubai, UAE-based platform for real-world asset (RWA) tokenization and lending, secured a $100m Bitcoin-backed credit facility.
The financing round was facilitated by a consortium of lenders including Greengage and a long-standing US institution.
This credit facility will further enhance Allo’s BTC-backed lending services, catering to institutional and individual participants.
Enhancing its position in the Bitcoin ecosystem, Allo has staked over 544 BTC (valued at $50M+) through the Babylon Bitcoin Staking Protocol. This positions the company as a key player in enabling Bitcoin-secured networks, with its BTC staking solution minting the $alloBTC token featured prominently on DeFiLlama.
Allo’s growth trajectory is underscored by its inclusion in the Binance Labs and BNB Chain MVB Accelerator program, securing up to $750k investment. The company is also launching its native $RWA cryptocurrency, adding new utility to its ecosystem. Additionally, Allo has also over $2.2 billion in Total Value Locked (TVL) across various assets on the BNB Chain. Its innovative onchain RWA fund solution allows anyone to create funds in under 60 seconds, opening new opportunities for asset management. The company has also secured a $50 million term sheet for lending against SpaceX stock, enabling efficient borrowing solutions for private market shareholders.
FinSMEs
24/12/2024