Overview
- The integration publishes S&P’s Stablecoin Stability Assessments on-chain through Chainlink’s DataLink infrastructure.
- The feed debuts on Base, an Ethereum layer-2 from Coinbase, with real-time access for DeFi protocols and plans to expand based on demand.
- S&P’s framework scores stablecoins from 1 (very strong) to 5 (weak) using factors such as asset quality, liquidity, redemption mechanisms, governance, and regulatory status.
- Coverage currently spans 10 stablecoins, including USDT, USDC, and Sky Protocol’s USDS/DAI.
- S&P emphasizes the assessments are not credit ratings but operational and structural evaluations, launched as the stablecoin market nears roughly $304–311 billion in October 2025.