Avalanche’s Distributed Tokenized Asset Base Tops $1.73 Billion

Avalanche hosted about $1.73 billion in distributed real-world assets as of October 12, 2026, according to Blockworks’ third-quarter report on the network. The report said the distributed total counts assets “actually out in the market, held and traded,” rather than records sitting on a ledger as representations.

Blockworks put Avalanche’s broader represented RWA total above $11 billion. About $10.7 billion of that came from a single copper-gold token that does not circulate. The distinction makes the smaller distributed figure more useful for measuring live market activity.

How much came from tokenized Treasuries?

Tokenized US Treasuries accounted for $545 million of Avalanche’s distributed assets at the close of Q3 2026. Their balance rose 14% quarter over quarter and grew fourfold over the course of 2026.

Blockworks described the Treasury category as concentrated in a limited set of products, chiefly tokenized Treasury funds such as BlackRock’s BUIDL. The report treated the 14% quarterly gain and fourfold 2026 expansion as signs of demand building over time.

Why did BUIDL’s balance fall?

BlackRock’s BUIDL holdings on Avalanche peaked at 907.2 million tokens, worth roughly $907 million, in mid-July 2026. By early October, the count had fallen to about 483 million tokens. Blockworks attributed the slide to redemptions and changes in institutional minting.

One large client’s decisions can therefore move Avalanche’s aggregate figures sharply. BUIDL is not a one-chain product: it had approximately $2.17 billion in on-chain assets under management across all networks as of late October 2026, according to Blockworks.

Blockworks said BUIDL’s multichain structure lets BlackRock shift balances between networks as clients prefer. That flexibility keeps Avalanche’s totals sensitive to cross-chain allocation decisions.

What does Axiym’s record show?

Payments company Axiym processed $529 million in stablecoin payments on Avalanche during Q3 2026, its biggest quarter on record. The figure lifted Axiym’s lifetime payment volume above $2 billion and represented 4.4x year-over-year growth, Blockworks reported.

Axiym uses stablecoins for cross-border remittances and treasury settlements. The report said this reduces the capital money services businesses must lock up by pre-funding foreign accounts. Payment volume also tends to be stickier than fund balances because it reflects ongoing business activity rather than a client’s decision to redeem or mint a token.

Why are institutions using Avalanche?

Avalanche has leaned on two selling points with institutional clients: fast transaction finality and flexibility around regulatory compliance. The latter includes the ability to build rules determining who can hold an asset, giving institutions more control over access to tokenized products.

That concentration creates a measurable dependency on a few clients. When one fund can swing from about $907 million to roughly 483 million tokens on the same chain in a single quarter, network totals remain tied to a handful of allocation decisions. Axiym’s recurring settlement activity offers a broader test of whether Avalanche can develop durable institutional use.

What changes next?

Two trends will frame the next phase. The first is whether tokenized Treasury balances stabilize after BUIDL’s redemptions or continue to follow a handful of large clients’ allocation choices. The second is whether stablecoin payment activity grows into a core institutional function alongside tokenized funds, reducing the network’s dependence on fund balances that can move to other chains.

If Axiym sustains the 4.4x year-over-year growth recorded in Q3 2026, stablecoin settlement could become as important to Avalanche’s institutional proposition as tokenized Treasury products. That would mark a market-structure change, with Avalanche carrying recurring payment flows rather than relying mainly on fund balances that can move elsewhere.