S&P Global Ratings has joined forces with blockchain oracle provider Chainlink to make its new Stablecoin Stability Assessments (SSAs) available directly on blockchain networks. The move allows financial institutions to access real-time insights into how well different stablecoins maintain their pegs to fiat currencies.
The SSAs went live Tuesday on Base, an Ethereum layer-2 network, with plans to expand to other blockchains depending on client demand and market feedback, according to a joint statement shared with Cointelegraph.
S&P Global said the initiative comes as institutional adoption of digital assets continues to rise, making onchain access to trusted financial data increasingly important.
Chainlink Partnership Brings S&P’s Credit Expertise to DeFi
The assessments will be powered by Chainlink’s DataLink, an institutional-grade data service that delivers verified information to smart contracts. Each stablecoin will be rated on a scale from 1 (very strong) to 5 (weak), based on its ability to maintain a stable value relative to fiat currencies.
This marks the first time S&P Global Ratings’ data will be accessible directly onchain, enabling DeFi protocols and blockchain-based platforms to integrate traditional credit-style evaluations into their systems.
Chainlink co-founder Sergey Nazarov described the partnership as a key step toward bridging traditional finance and digital assets. He noted that S&P Global Ratings is one of the most trusted providers of credit assessments worldwide, relied upon by major banks, asset managers, and governments.
“This collaboration introduces a critical framework for institutions adopting stablecoins at scale. It enables a more secure and compliant foundation for digital markets.”
Sergey Nazarov
Growing Stablecoin Market Spurs Demand for Onchain Risk Data
The global stablecoin market has recently crossed 300 billion dollars and is projected to reach 2 trillion dollars by 2028, according to an estimate from the US Treasury Department in April.
With the GENIUS Act introducing a regulatory framework for stablecoins, experts expect rising demand for real-time risk assessments that help institutions make more informed decisions about their stablecoin investments.
Different types of stablecoins use various mechanisms to maintain their value. For example, USDC is a fiat-backed stablecoin, fully collateralized by US dollars and Treasury bills, while Ethena USDe (USDe) follows an algorithmic model that relies on crypto-based collateral and onchain systems instead of cash reserves.
Many of these tokens depend on blockchain oracle networks such as Chainlink to provide accurate, tamper-resistant price data an essential element for maintaining their peg and supporting smart contract operations across decentralized finance platforms.
