Free Newsletter Get the hottest Fintech Singapore News once a month in your InboxTether, TrueUSD and Ethena USD sit at the bottom of S&P Global Ratings’ stablecoin assessments with weak scores. Six of the 11 stablecoins covered by the ratings agency are rated adequate or stronger for maintaining a peg to a fiat currency or basket of currencies. S&P Global Ratings launched its Stablecoin Stability Assessments (SSAs) in December 2023 to provide greater transparency around stablecoin risks. Mohamed Damak, Digital Assets Analyst at S&P Global Ratings, said,“SSAs reflect our view of a stablecoin’s ability to maintain its peg to a fiat currency or a basket of currencies. S&P Global Ratings has also expanded its digital asset coverage to tokenised treasury funds and digital bonds, and in February 2026 assigned its first rating to a structured finance transaction backed by bitcoin.