Posted 12/12/2023, 7:02:57 PM
S&P Launches Stablecoin Ratings, Gemini and Circle Top List While Tether and Others Get Low Marks
- S&P Global launched stablecoin stability assessments, rating 8 major stablecoins on ability to maintain peg
- Gemini (GUSD), Paxos (USDP), and Circle's (USDC) received top "Strong" rating of 2
- Tether (USDT) received second-lowest "Constrained" rating of 4 due to lack of transparency
- TrueUSD and Frax received lowest "Weak" rating of 5, citing lack of information and algorithm dependence
- No stablecoins received top "Very Strong" rating of 1; ratings aim to embed stablecoins further into financial markets