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S&P Global Ratings has issued a B- credit rating to Sky Protocol, the decentralized finance platform that manages the USDS stablecoin. The assessment marks the first time the credit-rating firm has evaluated any stablecoin arrangement, whether centralized or decentralized. In its report, S&P Global cited centralization and liquidity risks as the principal constraints on Sky Protocol’s rating, placing the project below investment-grade territory. The agency nevertheless acknowledged the protocol’s growing scale and the importance of independent, on-chain collateral management in mitigating some operational risks.
Today, @SkyEcosystem and its decentralized stablecoin USDS got a B- rating from S&P (@SPGlobal ) - the first time they rated any stablecoin issuer, centralized or decentralized. Some people are getting hung up on the B- because its not investment-grade yet when compared to https://t.co/TYeRsDOb2B
. @SkyEcosystem (prev. MakerDAO) is not a legal entity, yet @SPGlobal issued the first-ever credit rating for a decentralized stablecoin system. Another major move by a financial giant. You're not bullish enough. https://t.co/WqxXOfPcMy
. @SkyEcosystem is not a legal entity, yet @SPGlobal issued the first-ever credit rating for a decentralized stablecoin system. Another major move by a financial giant. You're not bullish enough. https://t.co/pun0pc4klf
