The initiative initially launches on Base, evaluating major stablecoins like USDT, USDC, USDS, and DAI.
S&P Global Ratings, a top global credit ratings provider, has joined forces with Chainlink to bring its Stablecoin Stability Assessments (SSAs) on-chain via Chainlink’s DataLink publishing service, the companies announced Tuesday.
For the first time, DeFi protocols will gain direct access to S&P Global Ratings’ Stablecoin Stability Assessments, a framework that systematically evaluates a stablecoin’s risk and overall stability.
The SSAs evaluate stablecoins on a scale from 1 (very strong) to 5 (weak), assessing their ability to maintain stable value relative to fiat currencies. The assessments will initially launch on Base, an Ethereum layer 2 blockchain incubated by Coinbase.
“The launch of SSAs on-chain through Chainlink underscores our commitment to meeting our clients where they are,” said Chuck Mounts, Chief DeFi Officer at S&P Global. “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.”
The stablecoin market has reached a capitalization of $311 billion as of October 2025, up from $173 billion a year ago, according to CoinGecko. Chainlink’s infrastructure has facilitated over $25 trillion in transaction value while securing nearly $100 billion in DeFi total value locked.
“I’m very excited that S&P Global Ratings is leveraging Chainlink to bring its Stablecoin Stability Assessments on-chain for the first time, empowering the world’s largest institutions to adopt stablecoins at scale,” said Sergey Nazarov, Co-Founder of Chainlink.
S&P Global Ratings currently assesses 10 leading stablecoins through its SSA framework, including USDT, USDC, and Sky Protocol’s USDS/DAI. The assessments evaluate factors such as asset quality, governance frameworks, regulatory compliance, redeemability, liquidity, and track record.
