Copy link
Increase text size
Decrease text size
Link copied

Morningstar to offer ratings for crypto assets by end of 2019

Wed, 02 Oct 2019, 17:39 pm UTC

Chicago-based rating firm Morningstar plans to bring its services to the ethereum blockchain, as it seeks to begin rating blockchain-based debt securities.

According to Forbes, the rating firm has already worked on building models that provide accurate methods of rating blockchain-based securities. Hence, the new service could make inroads in moving on the $117 trillion global debt securities market using blockchain technologies, which is largely governed by custodians and trustees.

Speaking to the news outlet, Michael Brower, chief operating officer at Morningstar Credits Ratings, said that the new rating service can help establish the credibility of the new asset class. As such, billions of dollars’ worth of investment are expected to enter the crypto space.

We’re working very closely with a number of blockchain-oriented firms who are looking to issue debt instruments on blockchain,” Brawer said.

Morningstar Credit Ratings will offer publicly available ratings of one to five stars to the crypto assets and introduce a premium customs service that utilizes its internal modeling to help a client evaluate the investments.

Although its services cover government and corporate bonds, its blockchains have been limited to structured finance debits instruments by far. Further, its system for rating bonds will be placed directly on the ethereum blockchain and soon on other blockchains via a technology called an oracle.

We're looking to see how we can also provide credit opinions, whether it’s a credit rating or different types of credit data and credit analytics that accompany those debt instruments, and we’re also looking to provide our services on a blockchain,” Brawer stated.

The public ratings are slated to be launched later this year and the premium service by the end of 2020.

Meanwhile, cryptocurrency exchange Coinbase recently introduced the Crypto Rating Council in collaboration with Anchorage, Bittrex, Circle, DRW Cumberland, Genesis, Grayscale Investments, and Kraken. The organization aims to help traders comply with U.S. federal securities laws.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,264.29 (-0.35%)
  • Ethereum (ETH) $238.64 (+0.08%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $237.67 (+0.19%)
  • Bitcoin SV (BSV) $185.28 (+0.45%)
  • Bitcoin (BTC) $9,264.29 (-0.35%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft