Apollo Global Management has expanded ACRED, its on-chain wrapper of the Apollo Diversified Credit Fund, to seven public blockchains. Settlement is at daily NAV with full asset-level transparency through Securitize.
Apollo Global Management, the 785-billion-dollar alternatives manager, has expanded ACRED to seven chains. ACRED is the on-chain wrapper of the Apollo Diversified Credit Fund, the firm's flagship diversified-credit strategy. Subscriptions, redemptions and NAV strikes all settle natively on-chain through Securitize as the SEC-registered transfer agent.
Why credit, why now
Private credit is the asset class that has wanted tokenisation infrastructure for longer than any other. The underlying portfolios are illiquid by construction, NAV is struck on a calendar basis, and secondary trading has historically required calling a desk. On-chain settlement collapses the entire workflow into a smart-contract transfer with a daily-marked claim. For an allocator running multi-strategy credit, that is a fundamental change in operating model.
The seven-chain footprint covers Ethereum, Polygon, Solana, Avalanche, Base, Arbitrum, and Optimism. Apollo has been clear that the multi-chain strategy is not about chasing liquidity; it is about meeting institutional counterparties wherever they already operate. A pension fund running custody on Avalanche should not have to bridge to access an Apollo product.
ACRED is not a crypto product. It is Apollo's diversified credit fund with a different settlement layer — and the settlement layer is what changes everything.
What it means for the asset class
Tokenised credit was the smallest of the four major RWA categories at the start of 2025. With ACRED scaling, Figure crossing 12 billion dollars in tokenised HELOCs, and Maple's institutional pools at multi-billion run-rate, credit is now structurally rivalling tokenised treasuries as the second-largest on-chain RWA segment behind gold.
The largest alternatives manager in the world treating on-chain rails as production infrastructure is the strongest signal yet that tokenisation has cleared its institutional credibility test. The remaining question is when the rest of the private-markets stack — buyout, growth equity, infrastructure — follows.
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