Moody’s and Chainlink Test Credit Ratings Across Blockchains

Moody’s Ratings and Chainlink tested a system for distributing credit ratings across multiple blockchains. The pilot connects Moody’s credit information with Chainlink’s cross-chain technology as financial firms experiment with tokenized assets.

The distinction is that this was a testnet exercise using representative data. No live rating actions were published onchain during the pilot, and the demonstration does not mean a commercial cross-chain ratings service has launched.

The companies used Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, alongside Moody’s Token Integration Engine, known as TIE. The test covered both permissioned and permissionless networks while preserving Moody’s existing publication and governance processes, according to the companies.

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Why Ratings Need to Travel

Tokenization represents an asset, such as a bond or fund interest, with a digital token on a blockchain. Investors and institutions still need information about the issuer and the credit risks attached to that asset. A token’s existence on a ledger does not change the underlying obligation or guarantee its quality.

The challenge becomes more complicated when an asset and its users operate across different networks. A rating distributed through an interoperable layer could be made available to applications on more than one chain, rather than requiring every network to build a separate connection to the same information.

That could make credit data easier to incorporate into digital workflows, including checks that depend on a current rating. Whether a particular application can access or act on that data would still depend on its design, permissions and licensing arrangements.

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Building on Earlier Work

Moody’s launched TIE on the institutional Canton Network earlier this year and later extended it to Solana, according to Decrypt. The engine is intended to make credit assessments and related information usable within blockchain environments.

Moody’s said it rated or assessed more than 70 digital issuances, including digital bonds and tokenized funds, between January 2017 and October 2026. That experience informs the data the company is seeking to distribute, but the pilot itself tested delivery rather than issuing a new credit opinion.

Chainlink’s role is the connection between systems and networks. Moody’s remains responsible for its own credit assessments and the processes governing their publication. Chainlink’s participation should not be read as a rating of LINK or a guarantee that any tokenized security is safe.

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What Comes Next

The pilot showed that representative ratings data could be distributed across networks, but live use would require a production deployment and controls for distributing updates. The companies said the model is designed to accommodate future rating changes under appropriate governance.

For the tokenized asset market, the practical question is whether reliable information can reach the institutions and applications that need it as assets move between systems. This test addresses part of that infrastructure, while leaving production adoption and commercial terms for later.