Using zero-knowledge proof (ZKP) technology, the system allowed credit ratings to be securely published, updated, and withdrawn
Untangled Finance and Moody’s Ratings have completed a Proof of Concept to bring credit ratings on-chain.
The two firms tested a system to allow for decentralized access to Moody’s financial data, Untangled Finance announced Thursday.
The PoC, 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 Using zero-knowledge proof (ZKP) technology, the system permitted credit ratings to be published, updated, and withdrawn on-chain.
“Our oracle solution ensures real-time data visibility and immutability while preserving privacy,” said Manrui Tang, co-founder of Untangled Finance.
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 reported, which allowed accredited investors to lend USDC under Luxembourg securitization rules.
The startup previously raised $10 million in a Series Seed round led by DeFi venture firm ParaFi Capital.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
