The RWA tokenization platform Allo, headquartered in Dubai, has secured $100 million in financing backed by Bitcoin.

According to a December 19 announcement, the credit facility is funded by a consortium that includes Greengage and a 'long-term' American institution.

The platform enables the tokenization of real-world assets and on-chain lending. Prior to securing the credit line, Allo received a $750,000 investment as part of the Binance Labs accelerator program. The company also raised nearly $2 million in seed funding from investors such as NGC, Gate Labs, and Morningstar Ventures.

The startup claims to have staked over 544 BTC through the Babylon protocol. According to data from DefiLlama, the staked BTC allows for the minting of alloBTC, which is currently valued at $54 million. Additionally, it is said to have facilitated over $2.2 billion in tokenized assets on the BNB Chain.