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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Stablecoin Tether was ordered to report them on a quarterly basis after a settlement with the New York Attorney General's office, which alleged that Bitfinex used Tether's funds to secretly cover $850 million lost to a payment processor.

The crypto sector was hit hard last year by the collapse of the Terra ecosystem after the algorithmic stablecoin (Terra UST) lost its peg to the U.S. dollar.

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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).