DeFi
RLUSD's big week: a federal trust bank on Monday, an A2 Moody's rating on Tuesday
Ripple's $2.5 billion stablecoin won final OCC approval for a national trust bank to hold its reserves, then got an investment-grade A2 rating from Moody's a day later. It still trails PayPal's PYUSD.
DeFi
Moody's rates DeFi's Sky B3: just $90 million of capital behind $10 billion of assets
The former MakerDAO, issuer of the USDS and DAI stablecoins, got a speculative-grade B3 rating from Moody's with a stable outlook. Its track record and low losses won praise. Its thin capital did not.