S&P Stablecoin Evaluation Report: USDC Receives 'Strong' Rating, DAI and USDT Receive 'Limited' Rating
Standard Poor's Global Ratings announced on Tuesday its assessment of the stability of eight stablecoins, including Dai (Dai), First Digital USD (FDUSD), Tether (USDT), Frax (Frax), TrueUSD (TUSD), USD Coin (USDC), USDP and GUSD. Analysts mainly focused on the "quality of assets supporting stablecoins". The overall quality is measured by custodial risk, credit, and market value. The evaluation results show that USDC, USDP and GUSD received a "strong" rating. USDT, DAI and FDUSD received a "constrained" rating. Analysts said that no stablecoin received the highest rating of "very strong" in the first assessment.
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