Moody's officially proposes a credit rating assessment framework for stablecoins... assessing reserves and operational risks

Source: DigitalToday Original Title: Moody’s to Rate Stablecoins’ Creditworthiness… “Assessing Reserves and Operational Risks” Original Link:

Moody’s, one of the world’s three major credit rating agencies, has officially proposed a credit rating evaluation system for stablecoins.

Moody’s stated, “We plan to assign credit ratings by comprehensively evaluating the quality of reserve assets and operational risks,” and announced that it will collect feedback from market participants until January 26, 2026.

Through this framework, Moody’s said it will “evaluate the creditworthiness of stablecoins and assign ratings.” The key focus is on the composition of reserve assets. Even if the structure is a 1:1 dollar peg, the credit rating may differ depending on what assets back it. Moody’s added, “We will assess market value risks based on the type and maturity of reserve assets and apply an advance rate.”

The framework that Moody’s will introduce also includes evaluation of operational risks, liquidity risks, and technological risks. Moody’s especially emphasizes that “stablecoin reserve assets should only be used to fulfill stablecoin obligations, even if the issuer or affiliates go bankrupt,” highlighting the principle of asset segregation.