Coinone said on Monday it will unveil a “stablecoin index” jointly developed with KIS Asset Valuation, a unit of international credit ratings agency Moody’s.

The “stablecoin index” developed by the two companies is a benchmark designed to measure price stability and market trends of major stablecoins pegged to the U.S. dollar (USD). It is calculated for U.S. dollar-pegged stablecoins supported for trading on Coinone.

It also selects constituents based on 6 criteria, including whether the issuance structure, collateral method and redemption mechanism are disclosed, and whether an audit report is submitted at least once a year.

The index is calculated daily at 4 p.m. based on Coinone exchange price data. It is scheduled to be disclosed at 5 p.m. the same day on KIS Asset Valuation’s website and its KIS-Net data service, along with supplementary indicators.

The supplementary indicators show how stably a stablecoin’s price maintains its set value.

A Coinone official said, “This stablecoin index was planned to align with a time when institutional improvements in the digital asset market are accelerating, including the opening of the corporate investment market and the proposal of the Digital Asset Act.” The official added, “We hope it will establish itself as a credible benchmark in the digital asset market and serve as a guide for investment decisions.”