S&P global ratings have assigned a b- (stable views) Issuer Credit Rating on Sky Protocol, the decentralized lending platform formerly known as maker protocolInitially for decentralized finances (Defi) Industry.
Ethereum -based protocol issues The USDS stablecoinCreated when borrowers approve collateral. With a $ 7.1 billion market cap, USDs only board the USDT and USDC in size. Sky also offers savings vaults, enabling holders to earn through USDS savings (SUSDS).
Jonathan Manley, global leader of the S&P market, called the rating of a “significant milestone” that will help bring more transparency to defi.
The move will come as S&P expands its finance -based finance range, recently ratings tokenized treasury fund and blockchain mortgage securitizations. Sky himself is an investor in Janus Henderson treasury products.
Separate rates of stablecoin stability assessment of S&P (forced) on a five-point scale.
The rating emphasizes the growing overlap between traditional credit review and the emerging defi market.
