Sky Protocol received a B3 rating from Moody's, with significant credit weaknesses identified in its capital position

Sky Protocol has been awarded a B3 long-term counterparty risk rating by Moody's, marking the first time Moody's has rated a stablecoin protocol. As of September, Sky Protocol holds approximately $90 million in tangible common equity, corresponding to approximately $10 billion in tangible managed assets. Moody's has referred to its capital position as a significant credit weakness. (Source: Bitcoin.com News)