Moody’s Gives Ripple’s RLUSD Investment-Grade A2 and P-1…
By Tobi Opeyemi Amure
AI summary of the source article
Moody’s Ratings has assigned Ripple’s US dollar-backed RLUSD stablecoin an A2 long-term and P-1 short-term deposit rating. The stablecoin is issued by Standard Custody & Trust Company with reserves held at The Bank of New York Mellon.
Why it matters
Ripple’s Jack McDonald stated the rating is "a massive validation of the quality, transparency and institutional-grade infrastructure behind RLUSD."
Key facts
- Moody’s assigned RLUSD an A2 long-term deposit rating and a P-1 short-term deposit rating.
- RLUSD reserves consist mainly of short-duration US government assets and cash held at BNY Mellon, targeting 103% reserve coverage.
- Ripple secured final approval from the US OCC to establish Ripple National Trust Bank to manage segregated reserves.
Source excerpt · FinanceFeeds
Moody’s Ratings has assigned investment-grade ratings to Ripple’s US dollar-backed RLUSD stablecoin, which Ripple says is the first investment-grade Moody’s rating for a stablecoin. The agency gave RLUSD an A2 long-term deposit rating and a P-1 short-term deposit rating, according to its official rating announcement . A2 sits in the upper-medium-grade band of Moody’s long-term scale, while P-1 is…