March 19, 2024

Moody's is preparing a scoring system for evaluating stablecoins

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Moody's is preparing a scoring system for evaluating stablecoins

One of the largest rating agencies, Moody’s, is developing a scoring system for analyzing the risks of stablecoins. The platform will support up to 20 assets.

According to Bloomberg, the system is nowat an early stage of development. It will evaluate and rank the reliability of stablecoins, frequency of publication, and reliability of reserve reports. However, there are currently no plans to issue an official credit rating for stablecoins.

It is expected that Moody's scoring systemwill 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 bank, are even developing their own tokens.

The rating agency Moody's estimates thatincluding cryptocurrency companies. For example, in the middle of last year, the agency lowered the credit rating of the American cryptocurrency exchange Coinbase. This is due to the crisis in the market and the subsequent drop in revenue.