RWA platform Allo secures $100m Bitcoin-backed credit facility

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As a seasoned crypto investor with a knack for spotting promising projects, I find myself intrigued by Allo’s recent $100 million debt financing round. Having witnessed the meteoric rise and fall of numerous digital assets, I’ve learned to appreciate the resilience and adaptability that sets successful platforms apart from the rest.

Hello, the tokenization platform for real-world assets called Allo, has obtained a $100 million loan to strengthen its Bitcoin-secured lending operations.

On December 23rd, the Allo team disclosed that they had successfully obtained a Bitcoin (BTC) collateralized credit facility during a funding round, with leadership from a group of lenders. This consortium comprised Greengage, a digital finance innovator based in London, as well as an undisclosed U.S.-based institution.

Hello, a platform gaining significant popularity within the Bitcoin staking environment and tokenization of real-world assets on the BNB Chain, will leverage the credit facility to enhance its cryptocurrency-backed lending service. This versatile platform serves both institutional and individual clients aiming to engage in the rapidly growing crypto lending sector.

As the CEO of Greengage, I expressed my thoughts on our recent investment in Allo’s BTC-lending platform during a press statement. I noted that we are backing this venture because Allo aims to integrate traditional finance with blockchain technology. Based in the U.K., our company sees great potential in Allo’s mission and looks forward to witnessing its progress.

Currently, Allo’s Bitcoin staking through the Babylon platform exceeds 544 Bitcoins, equating to approximately $50 million as indicated by DeFiLlama. Additionally, the value locked in alloBTC is on the rise. The BNB Chain ecosystem has experienced significant growth, with the tokenized RWA TVL reaching a staggering $2.2 billion. Furthermore, the project has been fortunate enough to secure investment from Binance Labs through the MVB Accelerator program.

The RWA market currently hovers near $900 trillion, while tokenized assets are projected to make up 10% of global gross domestic product worth $24 trillion by 2027. Allo looks to tap into this tokenization potential with the financing initiative.

Additionally, expansion has established collaborations with numerous players within the cryptocurrency sphere, such as Cobo, a company that offers custody and digital wallet infrastructure, and Chainlink, a decentralized data service platform often used as an oracle network.

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2024-12-24 00:54