{"id":544136,"date":"2023-01-27T00:45:00","date_gmt":"2023-01-26T21:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/moodys-to-build-scoring-system-for-stablecoins-report\/"},"modified":"2023-01-27T00:45:00","modified_gmt":"2023-01-26T21:45:00","slug":"moodys-to-build-scoring-system-for-stablecoins-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/moodys-to-build-scoring-system-for-stablecoins-report\/","title":{"rendered":"# Moody\u2019s to build scoring system for stablecoins: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f00f032a6b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f00f032a6b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/moodys-to-build-scoring-system-for-stablecoins-report\/#%E2%80%9D_Moodys_to_build_scoring_system_for_stablecoins_Report_%E2%80%9C\" >&#8221; Moody\u2019s to build scoring system for stablecoins: Report  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Moodys_to_build_scoring_system_for_stablecoins_Report_%E2%80%9C\"><\/span>&#8221; Moody\u2019s to build scoring system for stablecoins: Report  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvYTFhZjlmZGItYmRmYS00YzUwLThhMGQtNWRmNjhkZTllZjU0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Credit rating firm Moody&#8217;s is allegedly developing a scoring system for stablecoins, with analysis for up to 20 digital assets, Bloomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-26\/credit-rater-moody-preps-crypto-stablecoins-scoring-system\">reported<\/a>\u00a0on Jan. 26, citing unnamed sources.\u00a0<\/p>\n<p>The system, which <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be in the early stages of development, will evaluate and rate the quality of the attestations of stablecoin reserves, although it will not be considered an official credit rating. <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>ly speaking, third parties attest that a company\u2019s claims are accurate and validate that stablecoins are backed 1:1 by their reserves. <\/p>\n<p>A stablecoin is a type of cryptocurrency whose value is pegged to a fiat currency, such as the United States dollar, or another financial instrument. The concept was developed to offer an alternative to the volatility of other cryptocurrencies by tying the stablecoin\u2019s value to another asset. This does not imply, however, that stablecoins are risk-free.<\/p>\n<p>For instance, Tether, the largest stablecoin issuer, settled with the New York Attorney General\u2019s office in 2021 after allegedly misrepresenting the amount of fiat collateral backing its USDT (USDT) stablecoin. In addition\u00a0to paying $18.5 million in damages to the state of New York, the company was required to submit periodic disclosures of its reserves, Cointelegraph reported at the time. <\/p>\n<p><strong><em>Related:\u00a0SBF tried to destabilize crypto market to save FTX: Report<\/em><\/strong><\/p>\n<p>Stablecoin reserves have come under further scrutiny in recent months as a consequence of the bear market and crypto firms\u2019 collapse in 2022. In May, the\u00a0Terra ecosystem imploded when its algorithmic stablecoin, TerraUSD (UST), lost its dollar peg, crashing to a low of around $0.30. <\/p>\n<p>Recently, Tether disclosed plans to stop lending funds from its reserves\u00a0amid rumors concerning its secured loans. The company reiterated that its loans were overcollateralized by \u201cextremely liquid assets\u201d but decided to discontinue the service throughout 2023. <\/p>\n<p>Moody\u2019s provides credit ratings for publicly traded companies, delivering analyses regarding credit risk through its rates. On Jan. 19, the agency released a note on Coinbase\u00a0discussing the crypto exchange&#8217;s downgraded\u00a0senior debt and corporate family rating, which indicates a company\u2019s ability to meet its financial obligations. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/moody-s-to-build-scoring-system-for-stablecoins-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Moody\u2019s to build scoring system for stablecoins: Report &#8220; Credit rating firm Moody&#8217;s is allegedly developing a scoring system for stablecoins, with analysis for up to 20 digital assets, Bloomberg reported\u00a0on Jan. 26, citing unnamed sources.\u00a0 The system, which appears to be in the early stages of development, will evaluate and rate the quality&#8230;<\/p>\n","protected":false},"author":1,"featured_media":544137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/a1af9fdb-bdfa-4c50-8a0d-5df68de9ef54.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75147,75238,75493,117,70610],"class_list":["post-544136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bloomberg","tag-financial-services","tag-stablecoin","tag-business","tag-finance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/544136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=544136"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/544136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/544137"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=544136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=544136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=544136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}