Standard Chartered · The Block
Moody’s gives Sky Protocol B3 rating as institutional interest in USDS expands
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Moody’s Ratings assigned Sky Protocol a B3 issuer rating with a stable outlook, marking the first rating the agency has issued to a stablecoin protocol.
Key facts
- Standard Chartered recently said that Sky's USDS business, staking rewards and buybacks could lift income to token holders fivefold by 2028
- Last month, Galaxy added $100 million of sUSDS to its corporate treasury, approved sUSDS as collateral across its institutional trading business and bought an undisclosed amount of SKY
- The value of independent credit ratings is that they allow institutional investors to assess Sky through frameworks they already use across global markets," said Greg Feibus, Global Head of Capital
- Moody’s Ratings assigned Sky Protocol a B3 issuer rating with a stable outlook, marking the first rating the agency has issued to a stablecoin protocol
Summary
Sky said the rating reflects growing institutional recognition of its credit profile as it works to build its reserves and improve its capital position. "The value of independent credit ratings is that they allow institutional investors to assess Sky through frameworks they already use across global markets," said Greg Feibus, Global Head of Capital Markets, Sky Frontier Foundation. Sky is currently the only stablecoin protocol formally rated by both Moody’s and S&P, the firm said. Last month, Galaxy added $100 million of sUSDS to its corporate treasury, approved sUSDS as collateral across its institutional trading business and bought an undisclosed amount of SKY.