S&P has published a rating of stablecoins with high capitalization
None of the assets received the highest rating
20.03.2024 - 15:35
186
1 min
0
What’s new? Credit rating agency S&P Global Ratings has unveiled its stability assessment of US dollar-linked stablecoins, which, according to its concept, should maintain an exchange rate of 1:1 to the underlying fiat currency. In evaluating the coins, the analysts first looked at the quality of the reserve assets, which is affected by characteristics such as market value and custodial risks. S&P analyzed DAI, FDUSD, USDT, FRAXX, TUSD, USDC, USDP, and GUSD coins.
What else is known? USDC, USDP, and GUSD topped the list, USDT, DAI, and FDUSD were in the middle, while FRAX and TUSD were named the weakest. In addition, none of the assets received the highest grade (“very strong”).
In evaluating projects, analysts also considered factors such as regulation, governance, oversight, liquidity, redeemability, and technology. In addition, S&P pointed out that there is no transparency or understanding of the risks inherent in various stablecoins in the market.
Last November, rating agency Moody’s released an AI tool to track the risks associated with fiat currency-linked stablecoins. Moody’s also said it recorded 609 instances of stablecoins with high capitalization being decoupled from the fiat exchange rate in 2023.
In January, the TUSD team engaged the Hong Kong division of consulting firm Moore Global as a reserve auditor. The collaboration was part of a global business development strategy and aims to “solidify TUSD’s position as a trustworthy and transparent, industry-leading stablecoin.”
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 668
BTC
+1.06%
-
Ethereum
$3 365.16
ETH
+7.44%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.39
XRP
+23.96%
-
Dogecoin
$0.389837
DOGE
+1.91%
-
Cardano
$0.862822
ADA
+10.99%
-
Bitcoin Cash
$488.88
BCH
-5.43%
-
Polkadot
$6.09
DOT
+7.97%
-
Stellar XLM
$0.282885
XLM
+15.72%
-
Litecoin
$90.76
LTC
+1.05%