SAMPLE – not yet analyst-reviewedSAMPLE issue produced by the scoring engine from public evidence. It has not yet been reviewed or signed off by an analyst, and the methodology (v0.1) is a draft. Figures may change before publication.
Public headline grades
Headline Assessment Grades
Our current Assessment Grades for every covered stablecoin, published openly. Scores, subscores, evidence and analysis are available to subscribers. Grades are opinions under our published methodology, not credit ratings or recommendations.
November 2026 issue
Data as of October 19, 2026.
| Asset | Issuer | Assessment Grade | Prior issue |
|---|---|---|---|
| USDCCircle Internet Group | Circle Internet Group | BLow relative risk | New |
| RLUSDRipple | Ripple | BLow relative risk | New |
| PYUSDPaxos Trust Company | Paxos Trust Company | BLow relative risk | New |
| USDGPaxos | Paxos | CModerate relative risk | New |
| USDPPaxos Trust Company | Paxos Trust Company | CModerate relative risk | New |
| USDTTether | Tether | DElevated relative risk | New |
| FDUSDFirst Digital Labs | First Digital Labs | DElevated relative risk | New |
| DAISky Protocol | Sky Protocol | FHigh relative risk | New |
| USDSSky Protocol | Sky Protocol | FHigh relative risk | New |
| CUUSDAppex CUSO | Appex CUSO | NRNot Assessed: insufficient public evidence (evidence coverage 42%) | — |
| TSDATruStage | TruStage | NRNot Assessed: insufficient public evidence (evidence coverage 24%) | — |