MOODY'S ASSIGNS INVESTMENT-GRADE RATINGS TO RIPPLE'S RLUSD STABLECOIN

Summary from the TLDR Crypto newsletter

Moody's gave RLUSD an A2 long-term and P-1 short-term deposit rating. It cited reserve credit quality and market value, coverage, liquidity, redemption arrangements, segregation, and third-party custody. The reserve is mostly short-term US government assets and cash held at BNY (Aa1), and the custodian targets 103% coverage. Ripple says it is the first stablecoin to get an investment-grade rating from Moody's. RLUSD has a $2.5B market cap and is used mainly inside Ripple's payments and as collateral in Ripple Prime. The ratings could fall if reserve quality, coverage, or liquidity weakens. Ripple also just got final OCC approval for Ripple National Trust Bank.