S&P Global Partners with Chainlink
S&P Global and Chainlink have partnered to bring stablecoin ratings on-chain, providing transparent risk assessments for stablecoins used in DeFi protocols.
S&P Global Ratings, a leading global credit ratings provider, has collaborated with Chainlink to publish its Stablecoin Stability Assessments (SSAs) on-chain via Chainlink's DataLink publishing service.
Stablecoin Stability Assessments
The SSAs evaluate stablecoins on a scale from 1 (very strong) to 5 (weak), assessing their ability to maintain stable value relative to fiat currencies.
- The assessments will initially launch on Base, an Ethereum layer 2 blockchain incubated by Coinbase.
- DeFi protocols will gain direct access to S&P Global Ratings' Stablecoin Stability Assessments for the first time.
Stablecoin Stability Assessments will help DeFi protocols make informed decisions about stablecoin usage.
Author's summary: S&P Global partners with Chainlink for on-chain stablecoin ratings.