Moody's and Chainlink Pilot Credit Ratings Across Blockchains

Moody's Ratings and Chainlink have shown that a single credit rating could be delivered to permissioned and permissionless blockchains at the same time, in a testnet pilot the companies announced Tuesday. The test used representative data, and no live ratings were published onchain. The exercise is a proof of concept, not a product launch.

The pilot used Chainlink's Cross-Chain Interoperability Protocol (CCIP) and ran through Moody's Token Integration Engine (TIE), the system the agency built to disseminate credit assessments and related data in blockchain environments. The companies said the pilot preserved Moody's existing publication and governance processes while showing that ratings could travel across chains through a single interoperable layer. The model is designed to accommodate future rating updates under appropriate governance.

Chainlink Labs framed the work as a matter of keeping pace with asset migration.

"As more financial assets move onchain, credit intelligence has to move with them, across chains and through every rating change"

Johann Eid, chief business officer at Chainlink Labs

Moody's pointed to fragmentation as the driver.

"the future of tokenized finance is unlikely to reside on a single blockchain, platform, or market infrastructure"

Fabian Astic, Moody's global head of digital economy

Where the pilot fits

Moody's rated or assessed more than 70 digital issuances, including digital bonds and tokenized funds, between January 2017 and October 2026. It launched TIE on the Canton Network in March 2026, becoming the first credit rating agency to provide independent credit analysis onchain, and later extended the engine to Solana.

On the Chainlink side, CCIP 2.0 launched on September 28, 2026, with optional Cross-Chain Verifiers and built-in compliance tools. The protocol secures over $84 billion in cross-chain token value and has appeared in institutional pilots with Swift and Fidelity International.

What is not settled

Neither party has said when, or whether, live ratings will follow.

The pilot demonstrates technical capability, not a commercial rollout. Moving to production would raise questions around licensing, data accuracy and liability if something goes wrong. Which networks would receive the data, and whether Moody's proceeds to mainnet, also remain open.

Context

Moody's is not the only rating agency working with Chainlink. S&P Global Ratings expanded its collaboration with the company on October 28, 2026 to bring Vault Risk Assessments onchain, initially targeting the lending vault market, which held about $10 billion in deposits as of September 2026. Whether other agencies follow will help determine whether onchain ratings become a standard data layer.

Moody's has also been expanding its direct work on digital assets. It recently assigned RLUSD an A2 rating, which Ripple called the first investment-grade Moody's rating for a stablecoin. Chainlink, for its part, has been widening CCIP adoption, including ApeChain's move to CCIP as its canonical bridge on November 4.