Moody's assigns Ripple stablecoin RLUSD an A2 long-term and P-1 short-term deposit rating.

BlockBeats news, October 28 - Rating agency Moody's has assigned Ripple's USD stablecoin Ripple USD (RLUSD) an A2 long-term deposit rating and a P-1 short-term deposit rating. Moody's stated that these strong ratings reflect the stablecoin's reserve coverage, liquidity, and redemption arrangements.

The related disclosure also noted RLUSD's contract address on Ethereum (0x829...17ed) and indicated its existence as a native asset on the XRP Ledger. This rating represents Moody's external credit assessment of RLUSD's reserve and redemption-related arrangements.