Avalanche onchain credit volume hits record $37.4 million in Q3

Onchain credit on Avalanche just had its best quarter on record. Loan volume climbed 34% to $37.4 million in Q3 2026. The numbers behind the record The headline stat is simple. Loan volume tied to onchain credit on Avalanche rose 34% quarter over quarter, landing at $37.4 million. The credit growth didn’t happen in isolation. Tokenized US Treasuries on Avalanche reached $545 million by the end of Q3 2026, up 14% from the prior quarter. Treasury holdings have also grown fourfold so far this year. The broader real-world asset (RWA) activity on Avalanche represented approximately $11.4 billion in asset value as of early October 2026. Put those figures side by side and the scale difference stands out. The $37.4 million in loan volume is a small slice next to $545 million in tokenized Treasuries and roughly $11.4 billion in broader RWA value. The deals feeding the machine First, Aave activated its V4 upgrade on Avalanche. The rollout is part of a multichain expansion that also introduced tokenized stocks as onchain collateral. Letting tokenized stocks serve as collateral is a notable shift. It means equity exposure could, in principle, back a crypto-native loan, which widens the pool of...