Moody’s developing stablecoin scoring system: Bloomberg

Quick Take

  • Moody’s is working on a system to rate up to 20 stablecoins.
  • The project still is in its early stages.

Moody's is developing a system to score stablecoins.

It will include an analysis of up to 20 stablecoins and rate them based on the quality of attestations on the reserves backing them. The company won't consider it an official credit rating, unnamed sources told Bloomberg.

The project still is in its early stages, Bloomberg also reported.

Attestations provide confirmation of a company's statements and are done by an outside firm.

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