Thank you @cain-cptc for your question. We don't use it for tenure or promotion, but I am happy to share how my college uses Canvas Credentials (Badgr Pro) for our Better-Prepared Online Teacher program. This is a group of professional development courses in online teaching and course design. By completing the four-course sequence (one badge per course), participants get a fifth (pathway) badge.
A couple of the courses are also offered by the Online Network of Educators (@ONE), and participants can earn badges for those courses either from @ONE or through our local offerings.
Pathways: Better-Prepared Online Teacher - Cosumnes River College
The @ONE program is a professional development organization that is funded by the chancellor for California's community colleges, and they use Canvas Badges as the certificates of completion for their courses. Some of our colleges require that faculty complete an @ONE course before being allowed to teach online, and so they are getting practice in honoring the badges that @ONE awards. We don't yet have universal appreciation however; I've had to create instructions on how to convert a badge into a printable certificate.
I hope that other community members share their experiences too.