Moody’s Ratings has completed a Chainlink-powered pilot to distribute credit ratings across multiple blockchains simultaneously, testing how its credit information could reach tokenized markets without changing established publication processes.
Summary
- Moody’s tested simultaneous ratings distribution across permissioned and permissionless blockchain networks using Chainlink CCIP.
- Representative test data was used, with no actual rating actions published onchain.
- TIE had already reached Canton and Solana before the latest cross-chain pilot.
- Participating networks, issuers, and a production launch date were not disclosed.
Chainlink said in its Nov. 10 announcement that the project connected Moody’s Ratings Token Integration Engine, known as TIE, with its Cross-Chain Interoperability Protocol, or CCIP. The pilot delivered representative ratings data to permissioned and permissionless networks in a controlled testnet environment.
No actual rating actions were published onchain, and the exercise did not involve live ratings distribution. The companies did not identify the participating networks or issuers, or announce a production launch date.
Moody’s tests ratings delivery while retaining publication controls
Using CCIP, the companies tested whether TIE could send credit information to several blockchain networks at the same time while preserving the governance procedures behind Moody’s published opinions.
TIE is designed to distribute ratings and related data for tokenized assets and blockchain environments. The delivery model can accommodate future updates, including rating actions, with controls over how information is managed throughout its lifecycle, according to the announcement.
Any future production workflow would retain Moody’s established publication processes. The release described a technical distribution exercise and did not announce a change to how the agency reaches its credit opinions.
Fabian Astic, global head of digital economy at Moody’s Ratings, said investors would increasingly expect access to ratings regardless of the technology supporting an asset.
“The future of tokenized finance is unlikely to reside on a single blockchain, platform, or market infrastructure,” Astic said.
He said the pilot explored how interoperable infrastructure could make ratings available across networks while preserving the publication and governance processes that support confidence in the agency’s analysis.
Moody’s said it rated or assessed more than 70 digital issuances between January 2017 and October 2026, including digital bonds and tokenized funds.
Johann Eid, chief business officer at Chainlink Labs, linked the work to the information institutions use when allocating capital and pricing risk.
“As more financial assets move onchain, credit intelligence has to move with them, across chains and through every rating change,” Eid said.
TIE had already reached Canton and Solana
Moody’s had already introduced TIE before the Chainlink trial. Its March 17 announcement described the engine’s launch on Canton, where the agency began operating a node on the institutional network.
Participation in that arrangement was issuer-led, Moody’s said, with the agency retaining control over its ratings. Canton was developed to support institutional privacy and regulatory requirements.
At TIE’s launch, Astic said Moody’s was bringing its analysis to digital infrastructure in line with global regulatory expectations and the agency’s governance, transparency and compliance practices.
In June, Moody’s announced a Solana integration through Alphaledger, allowing issuers of fixed-income securities tokenized on the platform to choose to have their ratings pushed directly onto the public blockchain.
The June announcement described TIE as independent of any single network and said Moody’s planned to cover more networks, business lines and instrument types as adoption grew.
Moody’s June statement said integrating ratings at the asset level gives market participants access to independent credit analysis within the digital asset’s infrastructure, without relying on a separate intermediary lookup.
The Solana integration followed a June 2025 municipal bond proof of concept, which crypto.news previously reported. Alphaledger’s original announcement described a simulation that used an API to connect offchain information with a security token minted on Solana.
Based in Poulsbo, Washington, Alphaledger said the exercise demonstrated how a municipal security rating could be incorporated into a tokenized instrument. Its municipal bond work provides a US fixed-income example of Moody’s earlier blockchain experiments.
Chainlink’s institutional projects cover funds and payments
Credit assessments and fund data have appeared together in other tokenization projects. On May 14, coverage of Fidelity International’s FILQ fund described an Aaa-mf assessment from Moody’s and Chainlink infrastructure for publishing net asset value and distribution data.
According to Sygnum’s description cited in that coverage, FILQ was available to institutional clients after identity and anti-money-laundering checks, with a $100,000 minimum initial investment. Tokens were issued on Ethereum.
Chainlink’s institutional work has covered payment infrastructure as well. In September, the company outlined a framework connecting banks to Swift’s blockchain ledger through the Chainlink Runtime Environment.
As detailed in Sept. 29 coverage, banks would retain their transaction-signing keys while Chainlink coordinated interactions with the ledger. Tokenized deposits would remain on bank-owned ledgers, with final settlement proceeding through existing agreed mechanisms.
