S&P Global Integrates Stablecoin Risk Assessments Onchain via Chainlink for Enhanced Transparency and Security

S&P Global Ratings is set to deliver its evaluations of stablecoin stability directly onto blockchains, thanks to a collaboration with the decentralized oracle network Chainlink.

This integration enables decentralized finance (DeFi) systems, smart contracts, and financial platforms to access S&P’s real-time risk assessments of stablecoins. This development was announced in a press release shared with CoinDesk.

The evaluations rank stablecoins on a scale from 1 to 5 based on their capacity to sustain a consistent value compared to fiat currencies.

These assessments consider factors such as asset quality, liquidity, redemption processes, regulatory compliance, and governance structures. Currently, S&P assesses ten different stablecoins including USDT, USDC and Sky Protocol’s USDS/DAI.

Unlike traditional credit ratings that focus on creditworthiness alone, these evaluations are designed specifically for assessing operational and structural stability. By integrating them into blockchain technology directly via Chainlink’s infrastructure rather than relying solely upon off-chain data sources or manual updates allows DeFi platforms seamless access without interruption.

The service leverages Chainlink’s DataLink system which permits conventional data providers easy publication onto blockchains without needing entirely new setups themselves initially launching within Base – an Ethereum layer two network – before expanding further depending upon demand levels observed later down line if necessary at all given current trajectory growth rates seen thus far according recent statistics provided by DeFiLlama showing total market capitalization reaching $305 billion up significantly since last year when only stood around $130 billion mark instead indicating strong upward trend continuing unabatedly forward still today even now despite any potential setbacks encountered along way potentially impacting future prospects negatively should they arise unexpectedly out nowhere suddenly catching everyone off guard unprepared completely blindsided momentarily perhaps temporarily halting progress made until resolved satisfactorily enough resume normal operations once 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