Untangled Finance Brings Moodys Credit Scores On-Chain
Untangled Finance and Moodys Ratings have completed a Proof of Concept to move credit ratings on-chain by testing a system to allow for decentralized access to Moodys financial data.
The proof-of-concept, conducted on the Polygon Amoy Testnet, integrated Moodys Ratings into Credio, Untangled Finances 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 Using zero-knowledge proof (ZKP) technology, the system allowed credit ratings to be securely published, updated, and withdrawn on-chain while protecting proprietary information.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 Finances 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.
The post Untangled Finance Brings Moodys Credit Scores On-Chain first appeared on CurrencyCrypt.
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Text source: CurrencyCrypt
