Allo has secured $100 million in debt financing to bolster its Bitcoin-backed lending business.
Allo's Successful Funding
On Dec. 23, the Allo team announced the successful securing of a Bitcoin-backed credit facility in a financing round led by a consortium of lenders, including London-based Greengage and an undisclosed U.S. entity.
Impact on Crypto Lending
Allo is actively developing its crypto-backed lending services for both institutional and retail clients, with significant growth seen in the Bitcoin staking ecosystem and real-world assets tokenization on the BNB Chain.
Future of Real Asset Tokenization
Allo aims to capitalize on the potential of tokenizing real world assets, currently valued at $900 trillion. These tokenized assets are projected to account for 10% of the global GDP, worth $24 trillion by 2027, marking a strategic direction for further growth.
This financing will allow Allo to strengthen its market position and expand its capabilities for integrating tokenized assets into the financial ecosystem.
