Allo Secures $100 Million in Debt Financing for Bitcoin-Backed Lending Business

Allo, a real-world assets tokenization platform, has announced the successful securing of a $100 million debt financing round to bolster its Bitcoin-backed lending business. The financing round, led by a consortium of lenders including Greengage, a London-based digital finance pioneer, and a U.S.-based institution, is set to boost Allo’s crypto-backed lending service.

Expanding Presence in the Crypto Lending Market

Allo’s platform caters to both institutional and individual clients looking to participate in the rapidly-expanding crypto lending market. The company is seeing massive traction across the Bitcoin staking ecosystem and real-world assets tokenization on BNB Chain. According to data from DeFiLlama, Allo’s staking via BTC staking platform Babylon currently sits at over 544 BTC, with the total value locked in alloBTC at nearly $50 million.

Sean Kiernan, chief executive officer of Greengage, commented on the raise, noting that the U.K.-based company supports Allo’s venture as the BTC-lending platform looks to bring traditional finance on-chain. “We believe in Allo’s mission to bridge the gap between traditional finance and the crypto market,” Kiernan said.

Market Potential and Partnerships

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. The company has also sealed strategic partnerships with several crypto ecosystem players, including custody and wallet infrastructure provider Cobo and decentralized oracle network Chainlink.

“The growth of the RWA market presents a significant opportunity for Allo to expand its presence in the crypto lending space.”

Tips for Investors and Market Participants

For investors and market participants looking to tap into the growing crypto lending market, here are some key takeaways:

  • Look for platforms with strong partnerships and a solid track record of growth.
  • Understand the risks and benefits associated with crypto-backed lending.
  • Stay up-to-date with market trends and developments in the RWA space.
  • Diversify your investment portfolio to minimize risk.

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