Allo.xyz, a platform for real-world asset (RWA) tokenization and lending, announced it had secured a $100 million Bitcoin-backed credit facility. This credit facility will further enhance Allo’s BTC-backed lending services, catering to institutional and individual participants looking to engage in the growing crypto lending market.
Supporting its position in the Bitcoin ecosystem, Allo has staked over 544 BTC (valued at over $50 million) through the Babylon Bitcoin Staking Protocol. This positions Allo as a key player in enabling Bitcoin-secured networks, with its BTC staking solution minting the $alloBTC token featured prominently on DeFiLlama.
The financing round, facilitated by a consortium of lenders, including Greengage and a long-standing US institution, highlights the rising demand for Bitcoin-secured lending solutions as Allo bridges traditional finance with blockchain technology.
Allo’s trajectory is validated by its inclusion in the Binance Labs and BNB Chain MVB Accelerator program, securing up to $750,000 in investment. And Allo is also gearing up to launch its native $RWA cryptocurrency, adding new utility to its ecosystem. Additionally,
Allo also made strides in tokenizing real-world assets, with over $2.2 billion in Total Value Locked (TVL) across various assets on the BNB Chain. Allo’s innovative onchain RWA fund solution allows anyone to create funds in under 60 seconds, opening new opportunities for asset management.
Allo continues to pioneer tokenization solutions that seamlessly integrate traditional and digital finance. And the company has also secured a $50 million term sheet for lending against SpaceX stock, enabling efficient borrowing solutions for private market shareholders.
Allo has been accepted into the Qatar Financial Center Digital Asset Lab, underscoring the platform’s commitment to regulatory compliance and technological advancement. And the company has strategic partnerships across the ecosystem, including BNB Chain, Binance Labs, Cobo, Babylon, and Chainlink.
KEY QUOTES:
“We’re excited to support this much-needed new venture and look forward to seeing great things to come.”
– Sean Kiernan, CEO of Greengage
