New onchain money kept flowing into tokenized loans, as a Dune report finds tokenized credit has more than doubled in a year
Asset-backed credit pulled in fresh onchain money again. According to Centrifuge, it is now the second straight week of new inflows for the category.
Centrifuge confirmed the inflows on October 16, 2026. The update builds on the prior week’s snapshot, when new onchain capital headed mainly toward three destinations: Treasuries, gold, and asset-backed credit.
The broader trend lines support the weekly numbers. Dune Analytics, in a report titled “After Issuance: Reading the Onchain RWA Market – Q3 2026,” found that tokenized credit has more than doubled over the past year.
The composition of that growth matters as much as the size. According to Dune, approximately two-thirds of it traces back to traditional lending products, including home-equity lines and middle-market loans.
The Dune report also highlights a second role for these assets. Tokenized credit is now the leading real-world asset collateral category in decentralized finance (DeFi) lending protocols.
Per Dune, most RWA deposits in these protocols now fall under tokenized credit.
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Centrifuge sits in the middle of this trend as an issuer of tokenized fixed-income products. The firm has recently deployed high-yield bond products on Circle’s Arc and on Stellar .
Those deployments have coincided with growth in holder counts and value on Stellar.
The October 9 snapshot offers useful context for the latest numbers. That week, the dominant flows went to Treasuries and gold alongside asset-backed credit.
Expert commentary on the inflows has been limited. Sentiment around the data, however, has been largely positive, with observers reading it as a sign of genuine interest in using real-world assets on blockchains.
For investors, the main takeaway is that tokenized credit is growing on fundamentals that look familiar. The bulk of the expansion, according to Dune, is tied to established loan types rather than novel experiments.
The collateral angle deserves close attention. If tokenized credit keeps expanding its share of DeFi lending deposits, the health of those protocols becomes more tightly linked to the performance of real-world borrowers.
For Centrifuge specifically, the momentum offers a test of its multichain strategy. Growth in holders and value on Stellar is an early signal, but sustained inflows across networks would be the stronger proof.