Moody's assigns A2 and P-1 ratings to Ripple's RLUSD stablecoin

What sources claim

• Moody's Ratings assigned an A2 long-term and P-1 short-term deposit rating to RLUSD, with reserves held mainly in Treasury bills, other short-term U.S. government assets and cash, most of it with custodian BNY, Decrypt reported.
• Moody's said Standard Custody is not a bankruptcy-remote entity and RLUSD holders do not currently have a direct ownership interest in the reserves, though the GENIUS Act due to take effect in 2027 will exclude required reserves from an issuer's bankruptcy estate, according to Decrypt.
• The Block reported that Moody's assigned the RLUSD A2 long-term and P-1 short-term ratings, citing the credit quality and market value of its reserve assets.

Still unresolved

• What the full Moody's ratings report says about conditions or outlook beyond the gaps in holder protection described by Decrypt would require the agency's published document.

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