S & P Global has given USDS issuer Sky Protocol a "B-" credit rating. According to Sky, this is the first time the rating agency has issued a credit rating for a stablecoin system. According to S & P's official website, a B rating means that the entity is more vulnerable to adverse business, financial and economic circumstances, but is still able to meet its financial obligations.
The report noted a "stable outlook", but said Sky's rating was constrained by its highly concentrated depositors, highly centralized governance structure and weak risk-adjusted capital strength.
S & P pointed out that while founder Rune Christensen holds 9% of the governance tokens, due to low voter turnout, Christensen has significant power in determining the future direction of Sky.
S & P Global gives Sky Protocol a "B-" credit rating
2025-08-08 03:36:26
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