Dubai-based Allo has secured a $100 million Bitcoin-backed credit facility from a consortium of lenders, including Greengage and a U.S. financial institution. Specializing in real-world asset tokenization, Allo has facilitated $2.2 billion in tokenized assets and raised $2.75 million in funding to date. The market for tokenized assets has surged in 2024, with total value increasing from $8.3 billion to nearly $13.9 billion, driven by institutional interest and advancements in blockchain solutions.
Allo, a Dubai-based tokenization platform, has secured a $100 million Bitcoin-backed credit facility from a consortium of lenders, including Greengage. The company has previously raised $750,000 through Binance Labs and nearly $2 million in seed funding, facilitating over $2.2 billion in tokenized assets on the BNB Chain. With the tokenization market projected to reach nearly $2 trillion by 2030, Allo's innovations are part of a growing trend that allows real-world assets to be digitized for easier investment.
Plume Network has secured $20 million in funding to enhance its tokenization platform for real-world assets, led by Brevan Howard Digital and other notable investors. The startup aims to enable tokenized assets to serve as collateral for loans, following its testnet launch in July and the introduction of a tokenized "Mineral Vault" for resource production exposure. With 180 projects already building on its infrastructure, Plume is positioned to capitalize on the growing tokenization market.
Ethena Labs has launched USDtb, a stablecoin backed by BlackRock’s BUIDL fund, ensuring a 1:1 peg to the US dollar with 90% of reserves held securely. Operating across multiple blockchains like Ethereum and Solana, USDtb offers enhanced security and cross-chain interoperability, having undergone rigorous audits by leading security firms. The stablecoin aims to provide low volatility and safe dollar exposure, while also serving as a stabilizing asset for Ethena’s USDe token.
Ethena Labs launched its USDtb stablecoin on December 16, achieving $65.4 million in total value locked on its first day. Backed 90% by BlackRock’s USD Institutional Digital Liquidity Fund, USDtb aims to provide stability in volatile markets and has the potential to scale to $100 billion. The stablecoin's smart contracts passed three audits, and it is designed to enhance liquidity and risk management for Ethena's flagship product, USDe.
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