Crypto

Moody\'s assigns B3 credit rating to Sky Protocol in first for stablecoin

Moody\'s has assigned a B3 issuer credit rating to Sky Protocol, which operates the USDS stablecoin, The Block reported on Tuesday. The outlook is stable. The report said this is the first time Moody\'s has rated a stablecoin protocol. Sky said the rating shows growing recognition of its creditworthiness and said it is the only stablecoin protocol with official ratings from both Moody\'s and S&P.

Crypto

Standard Chartered sees Ethena\'s ENA at $2 by 2028 on buyback bet

Standard Chartered forecast Ethena\'s USDe stablecoin supply will reach $40 billion by the end of 2028 and set a $2 target price for its ENA token. It said Ethena has diversified revenue sources beyond its previous basis trade as yields declined, and put the current blended yield at about 5.2 percent. It also cited growth in tokenised assets and highlighted buybacks as a key variable for valuing ENA.