• Moody’s Corporation, a leading global credit-ratings company, is reportedly developing a scoring system for the stablecoin industry.
• The new system will offer access to ratings for up to 20 stablecoins, with the company utilizing the latest technology to score the asset-backed tokens.
• Among the most important metrics to consider will be the reserves and quality of attestations for each of the stablecoins.

Moody’s Corporation, a leading global credit-ratings company, is reportedly in the process of creating a scoring system for the burgeoning stablecoin industry. According to a report by Bloomberg, which cited sources familiar with the development, the system will not be an official credit rating, but rather a comprehensive analysis of the world’s largest stablecoins.

Moody’s already has a presence in the world of digital assets, having provided credit ratings to major companies such as Coinbase. It also has a research unit which offers insightful analytic reports related to various issues in the crypto industry. The new system will offer access to ratings for up to 20 stablecoins, and Moody’s will utilize the latest technology to score the asset-backed tokens.

The scoring system will be based on various important metrics such as the reserves and quality of attestations for each of the stablecoins. According to the report, the system is being developed to meet the increasing regulatory attention on the stablecoin market which is growing rapidly. This comes as no surprise, as the industry has become increasingly important in recent times, with leading stablecoins such as Tether (USDT), USD Coin (USD) and Binance USD (BUSD) having a major impact on the market.

Moody’s system is expected to provide an accurate rating for the top stablecoins and help users make informed decisions when choosing which stablecoin to use. The company is reportedly working on the system to ensure it is compliant with all applicable regulations and will also provide user feedback to further enhance the system’s accuracy.

This development from Moody’s is a positive step for the stablecoin industry, as it will provide users with the necessary information to make informed decisions about which stablecoin to use. It is also likely to be welcomed by regulators, as it will help ensure that stablecoins are used responsibly and in line with the applicable legal requirements.