Allo.xyz, a UAE-based platform for real-world asset (RWA) tokenization and lending, has recently secured a $100 million Bitcoin-backed credit facility, as well as acceptance into Qatar’s Digital Assets Lab. This credit facility will enhance Allo’s BTC-backed lending services for both institutional and individual participants interested in the growing crypto lending market. Additionally, Allo has staked over 544 BTC through the Babylon Bitcoin Staking protocol to strengthen its position in the Bitcoin ecosystem and enable Bitcoin-secured networks.
Greengage and an unnamed “long-standing US institution” facilitated the financing round for Allo, reflecting the increasing demand for Bitcoin-secured lending solutions as the company continues to bridge traditional finance with blockchain technology. CEO of Greengage, Sean Kiernan, expressed excitement for supporting this new venture. The company also joined Binance Labs and the BNB Chain MVB Accelerator program, securing up to $750,000 in investment.
Allo has also made significant progress in tokenizing real-world assets, with over $2.2 billion in total value locked (TVL) across various assets on the BNB Chain. Its on-chain RWA fund solution enables anyone to create funds in under 60 seconds, providing new opportunities for asset management. By addressing the $900 trillion real-world asset opportunity, Allo is pioneering tokenization solutions that seamlessly integrate traditional and digital finance, including securing a $50 million term sheet for lending against SpaceX stock.
Kingsley Advani, Founder of Allo, shared details of discussions with the DIFC (Dubai International Financial Center) in the UAE regarding licensing for the project, highlighting the company’s efforts to establish a presence in the region. The post on LinkedIn revealed the partnership with DIFC Mohammad Alblooshi for licensing Allocations and ALLO, showcasing the company’s commitment to compliance and regulatory standards in the financial industry.
Overall, Allo.xyz’s recent developments in securing a Bitcoin-backed credit facility, joining accelerators, and tokenizing real-world assets demonstrate its commitment to innovation and growth in the crypto lending and asset tokenization space. With a strong backing from investors and strategic partnerships, Allo is well-positioned to continue leading the way in bridging traditional finance with blockchain technology, providing efficient borrowing solutions and new opportunities for asset management in the digital economy.
