CandleFocus UAE-based Allo.xyz secures $100 million Bitcoin-backed credit facility for its RWA platform
2024-12-24
Author: Content Editor
Allo.xyz, a platform for real-world asset tokenization and lending based in the UAE, has secured a $100 million Bitcoin-backed credit facility. This funding will enhance Allo's BTC-backed lending services, catering to both institutional and individual participants in the growing crypto lending market. The company has staked over 544 BTC through the Babylon Bitcoin Staking protocol to strengthen its position in the Bitcoin ecosystem. Allo is considered a key player in enabling Bitcoin-secured networks and has joined Binance Labs and the BNB Chain MVB Accelerator program, receiving up to $750,000 in investment. Additionally, Allo has made progress in tokenizing real-world assets, with over $2.2 billion in total value locked across various assets on the BNB Chain. The company is also in discussions with the DIFC in the UAE regarding licensing for the project.
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