Moody’s Gives Sky Protocol Its First Stablecoin Credit Rating

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B3

Moody's rating

$USDS

$10.22B mcap

$SKY

$0.0797

-10.7%

Moody’s has given Sky Protocol a B3 rating with a stable outlook, marking the agency’s first rating of a stablecoin protocol. But the report carries a sting: Sky held only about $90 million in tangible common equity against roughly $10…