Moody’s Assigns A2 Rating to Ripple’s $2.6 Billion RLUSD Stablecoin
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Moody’s rated Ripple’s RLUSD stablecoin A2, citing its Treasury-heavy reserves while noting that holders currently lack direct ownership of those assets.
Moody’s has assigned an A2 rating to Ripple’s $2.6 billion RLUSD stablecoin, according to Decrypt.
The ratings agency pointed to a reserve portfolio concentrated in U.S. Treasuries. It also flagged that RLUSD holders do not currently have a direct ownership interest in those reserves.
The rating came one day after Ripple received bank approval from the Office of the Comptroller of the Currency.
Source: Decrypt
