Leading credit rating agency S&P Global announced a collaboration between S&P Global Ratings and industry-standard oracle platform Chainlink to deliver S&P Global Ratings’ Stablecoin Stability Assessments (SSAs) onchain via Chainlink’s institutional-grade data publishing service, DataLink.
DeFi protocols and smart contracts now have access to S&P Global Ratings’ comprehensive, independent risk analysis for 10 leading stablecoins on Coinbase’s Ethereum layer-2, Base, with expansion to additional networks planned for the future. Onchain SSAs empower more than 2,400 financial institutions, protocols, and developers in Chainlink’s ecosystem to integrate stablecoins into innovative DeFi products with enhanced risk management.
DataLink leverages Chainlink’s hyper-reliable oracle infrastructure, which secures nearly $100 billion throughout DeFi and has facilitated over $25 trillion in transaction value, as a turnkey service for data owners like S&P Global Ratings to seamlessly, securely, and reliably publish data onchain without the need to build or maintain new infrastructure.
“By making our SSAs available on-chain through Chainlink’s proven oracle infrastructure, we’re enabling market participants to access our assessments seamlessly using their existing DeFi infrastructure, enhancing transparency and informed decision-making across the DeFi landscape,” said Chuck Mounts, S&P Global’s Chief DeFi Officer, in an official announcement.
He emphasized the collaboration’s significance during a panel discussion, “Charting the Path for Institutions in DeFi,” at Blockworks’ Digital Asset Summit in London.
“This is a very exciting development for us, the first step we’ve had in taking our risk assessments and putting them directly onchain.”
Stablecoins are gaining prominence as a core financial primitive since the passage of the GENIUS Act, which established the first federal guardrails for US dollar-pegged stablecoins, in July. J.P. Morgan Global Research projects the stablecoin market, which currently exceeds $300 billion, could reach $750 billion in the next few years.
Chainlink co-founder Sergey Nazarov, who witnessed the Genius Act signed into law, said bringing S&P Global Ratings’ SSAs onchain via Chainlink will accelerate the rate at which regulated financial institutions move capital into the blockchain economy.
“This unlocks a critical framework for institutions adopting stablecoins at scale, enabling a more secure and compliant foundation for digital markets.”