Moody’s has released a set of criteria for determining the credit rating of fiat-pegged stablecoins. The international rating agency says it will gather feedback from market participants on the proposed framework until January 26, 2026. Moody’s stated, “We will assess the creditworthiness and assign ratings to obligations backed by stablecoins.”
The first step involves examining the quality of each reserve asset, while the second step in the analysis will address their market value, considering type and maturity. Additionally, Moody’s plans to consider liquidity risks associated with stablecoins, operational and technological threats, storage conditions, transparency of operations, and other factors. By outlining these criteria, Moody’s aims to provide a framework for rating stablecoin-backed obligations and to enhance transparency around reserve and risk management practices. The framework, once finalized, could influence issuer standards and market confidence.
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