Moody's Completes Cross-Chain Credit Rating Pilot with Chainlink as Pharos Brings Tokenized High-Yield Credit to Fireblocks

Moody's Ratings and Chainlink have completed a testnet pilot demonstrating that credit ratings can be distributed simultaneously across multiple blockchains using Chainlink's Cross-Chain Interoperability Protocol, known as CCIP. The test ran through Moody's Token Integration Engine, the system the 125-year-old firm built to disseminate credit assessments within blockchain environments, and covered both permissioned and permissionless networks while preserving Moody's existing publication and governance processes. The pilot used representative test data and no live ratings were published onchain, making it a proof of concept rather than a launched product, but the companies said the model is designed to accommodate future rating updates under appropriate governance.

The move builds on Moody's established push into tokenized markets. The firm launched its Token Integration Engine earlier in 2026 on the institutional Canton Network before extending it to Solana, and has rated or assessed more than 70 digital issuances, including digital bonds and tokenized funds, between January 2017 and October 2026. Chainlink's chief business officer Johann Eid described the pilot as foundational infrastructure for institutional capital to adopt tokenization at scale, arguing that credit intelligence must travel with tokenized assets across every network where those assets might live.

Separately, Pharos announced an integration with Fireblocks that allows funds and exchanges already on the Fireblocks platform to hold tokenized U.S. high-yield credit products issued on Pharos without building new custody infrastructure. The pairing brings institutional-grade custody to a corner of fixed income that has historically been difficult to access in tokenized form.