S&P Stablecoin Assessment Report: USDC receives a "Strong" rating, while DAI and USDT receive a "Limited" rating

ChainCatcher news, S&P Global Ratings has released an assessment of the stability of 8 stablecoins, including Dai (Dai), First Digital USD (FDUSD), Tether (USDT), Frax (Frax), TrueUSD (TUSD), USD Coin (USDC), USDP, and GUSD. Analysts primarily focused on the quality of the assets backing the stablecoins, with overall quality measured by custodial risk, credit, and market value.

The assessment results show that USDC, USDP, and GUSD received a "strong" rating, USDT, DAI, and FDUSD received a "constrained" rating, while FRAX and TUSD were rated weak.

Analysts noted that no stablecoin received the highest rating of "very strong" in the first assessment.