Ripple’s RLUSD Wins Historic Moody’s Rating After US Bank Approval

Ripple says Ripple USD (RLUSD) has become the first stablecoin to receive an investment-grade rating from Moody’s, a day after the company won final approval for a national trust bank. The issuer targets 103% reserve coverage, while bankruptcy risks remain a qualification in the assessment. Moody’s Ratings assigned RLUSD A2 long-term and P-1 short-term deposit ratings on Oct. 27, assessing its backing and redemption framework. The Moody’s RLUSD deposit ratings apply to stablecoins natively issued on the XRP Ledger and Ethereum by Standard Custody & Trust Company (SCTC), Ripple’s New York-regulated trust company. The rating came a day after Ripple won final approval from the U.S. Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank, disclosed Oct. 26.

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