Tokenized credit on Pharos Network has reached $81.8 million, up 67% in recent trading, according to a post on X. The figure represents the protocol's credit market cap as institutional adoption of on-chain credit products accelerates across real-world asset platforms.
Pharos Network operates as a credit protocol built on blockchain infrastructure, enabling the tokenization and trading of credit products.
Data from DefiLlama, a decentralized finance tracker, shows Pharos with total value locked of $710.2 thousand on the chain. The discrepancy between the $81.8 million tokenized credit figure and other publicly available metrics on the platform underscores tracking challenges across fragmented RWA infrastructure.
Real-world asset protocols have drawn significant institutional capital over the past year as blockchain platforms compete to capture on-chain credit markets. Competitors including Ondo Finance, Mapprotocol, and others have reported similar expansions in tokenized debt and credit instruments.
Pharos tokenized credit has grown in the RWA sector, where platforms are integrating traditional credit underwriting with blockchain settlement. Institutional investors cite lower friction and faster settlement cycles as reasons for adoption in tokenized credit markets.
