Moody's Rates Ripple's $2.6B RLUSD Stablecoin A2, a Day After OCC Bank Approval

Moody's Ratings has assigned an A2 long-term deposit rating and a P-1 short-term deposit rating to Ripple USD (RLUSD), the dollar-backed stablecoin issued by Ripple subsidiary Standard Custody & Trust Company, the agency said on Tuesday. A2 is the sixth-highest long-term grade on Moody's scale, and P-1 is its top short-term grade. The agency said the ratings reflect the quality of RLUSD's reserves, which are held mainly in Treasury bills, other short-term U.S. government assets and cash, most of...