S&P Global, formerly known as Standard & Poor's, has just launched a stablecoin rating.
In the initial ratings of eight stablecoins, none of them have received the highest rating. However, 2 of the analyzed cryptos have received the lowest in relation to their ability to maintain their fiat pegs.
S&P Global said in a statement that to establish its ratings, the firm first examines asset quality risks, then risk-mitigating factors, and then considers governance, legal and regulatory framework, redeemability and liquidity, technology and third-party dependencies, and track record.
Lapo Guadagnuolo, senior analyst at S&P Global Ratings, said:
"We see stablecoins becoming further embedded into the fabric of financial markets, acting as an important bridge between digital and real-world assets. Nonetheless, it's important to acknowledge that stablecoins are not immune to factors such as asset quality, governance, and liquidity."