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Untangled Finance Brings Moody's Credit Scores On-Chain
A proof-of-concept demonstrated the feasibility of bringing Moody’s credit rating information into Untangled Finance’s risk oracle infrastructure.
What to know:
- Untangled Finance and Moody’s Ratings have successfully tested a proof of concept to move credit ratings on-chain, enabling decentralized access to Moody's financial data.
- The system, tested on the Polygon Amoy Testnet, uses zero-knowledge proof technology to securely publish, update, and withdraw credit ratings on-chain, protecting proprietary information.
- This development could make risk assessment more transparent and efficient, allowing DeFi protocols and other blockchain-based applications to integrate real-time credit data without reliance on centralized intermediaries.
Untangled Finance and Moody’s Ratings have completed a Proof of Concept to move credit ratings on-chain by testing a system to allow for decentralized access to Moody's financial data.
STORY CONTINUES BELOW
The proof-of-concept, conducted on the Polygon Amoy Testnet, integrated Moody’s Ratings into Credio, Untangled Finance’s risk oracle. Using zero-knowledge proof (ZKP) technology, the system allowed credit ratings to be securely published, updated, and withdrawn on-chain while protecting proprietary information.
“Our oracle solution ensures real-time data visibility and immutability while preserving privacy,” said Manrui Tang, co-founder of Untangled Finance, in a release.
Bringing credit ratings on-chain could make risk assessment more transparent and efficient, allowing DeFi protocols and other blockchain-based applications to integrate real-time credit data without reliance on centralized intermediaries.
This follows Untangled Finance's 2024 move to launch a $6 million private credit pool on Celo, as CoinDesk previously reported, which allowed accredited investors to lend USDC under Luxembourg securitization rules.
Sam Reynolds
Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.
