One of the largest rating agencies Moody’s is developing a scoring system to analyze the risks of stablecoins. The platform will support up to 20 assets.
According to Bloomberg, the system is currently at an early stage of development. It will evaluate and rank the stability of stablecoins, the frequency of publication and the reliability of reserve reports. However, there are currently no plans to issue an official credit rating for stable cryptocurrencies.
Moody’s scoring system is expected to increase the adoption of stablecoins in the traditional financial system. At the same time, many large financial institutions have long been interested in the topic, and some organizations, including JPMorgan, are even developing their own tokens.
The rating agency Moody’s evaluates, among other things, cryptocurrency companies. For example, in the middle of last year, the agency downgraded the credit rating of the American cryptocurrency exchange Coinbase. This is due to the crisis in the market and the subsequent drop in revenue.
Source: Bits
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