Directory of digital asset ratings and onchain risk vendors

Agio Ratings is a ratings agency for digital asset counterparties, producing calibrated twelve month probability of default forecasts for more than 70 exchanges and custodians and updating them daily. Each rating draws on nearly twenty scored variables spanning on-chain reserves, operating leverage, flow volatility and venue maturity, and outputs a numerical default probability rather than a letter grade, filling a gap the established agencies do not cover. Institutions convert those probabilities into portfolio loss distributions to set exposure limits, select counterparties and price insurance. Its models flagged elevated default risk at a major exchange four months before its collapse and separately assigned a low default probability to an exchange that then withstood a 1.5 billion dollar security breach. Customers include market makers, funds, banks, insurers and regulators, and an insurer uses its ratings to underwrite exchange default cover.

Chaos Labs builds automated risk management infrastructure for on chain lending and derivatives markets. Its Edge Risk Oracles compute and push parameter changes in real time, adjusting interest rates, loan to value ratios and liquidation thresholds in response to volatility and liquidity conditions, securing more than 2.1 billion dollars across 88 markets on an oracle network the firm states has processed over 70 billion dollars in transactions. The design is deliberately bounded: automated adjustments may only move within limits approved in advance through protocol governance, and the system includes a kill switch able to pause a market and block new deposits and loans during a disruption such as a stablecoin depeg. The firm reports cutting the time to change a risk parameter from roughly 96 hours of multi team governance and multisignature coordination to under a minute. It is building the complete risk architecture for Horizon, an institutional platform developed with Aave Labs for tokenised money market funds and United States Treasuries, work that has to accommodate daily and weekly net asset value cycles, overnight and weekend market closures and custodial coordination on liquidations. Chaos AI is a multi agent research system built on Langchain and trained on four years of public and proprietary data, and Chaos Vaults extends the firm into curated yield for institutions. Founded in 2021 in New York by chief executive Omer Goldberg and Julian Lindinger, it has raised 75 million dollars from investors including Galaxy, Haun Ventures and PayPal Ventures.

Credora, operating as Credora by RedStone since its September 2025 acquisition by the oracle network RedStone, produces credit risk ratings for on chain lending markets on a single A plus to D scale covering tokens, lending pairs and vaults. Its methodology maps to the probability of default curves used in traditional structured credit analysis, runs one hundred thousand Monte Carlo simulations per market, and is stated as calibrated on more than thirty years of credit data. The firm publishes each rating framework openly while stating plainly that the underlying algorithm remains proprietary. Ratings are distributed through RedStone's oracle infrastructure alongside price feeds, so a protocol can query price and risk in a single call, with named integrations at the lending markets Morpho and SparkLend and public application programming interface endpoints. Its privacy preserving architecture, documented publicly, runs the real time data unit and key management inside Intel Software Guard Extensions enclaves using the open source Gramine runtime, chosen so that its security can be independently verified, alongside zero knowledge proofs in the credit scoring pipeline. Founded in 2019 as X-Margin by Darshan Vaidya and Matt Ficke, it raised 14 million dollars from backers including Coinbase Ventures, S&P Global and HashKey before the acquisition, and relaunched public ratings in November 2025.

Gauntlet is a quantitative risk and allocation firm that runs agent based simulation across on chain lending and yield markets, using the output to size positions, set risk parameters and rebalance capital continuously. It began in 2018 modelling risk parameters for lending protocols including Aave, Compound and Maker, then moved from advisory into direct execution as a vault curator, and now curates more than 1.5 billion dollars of supplied assets across more than thirty vaults on Ethereum, Base and Polygon while monitoring a further 35 billion dollars for partners. Its published methodology caps allocation size to what simulations indicate a market can absorb, runs continuous liquidity checks so that liquidations can clear without disrupting the market, and manages utilisation ceilings to limit leverage, with strategies separated into stated risk tiers. Aera is its white label vault infrastructure, letting institutions run their own yield offerings on the same risk engine, and the Gauntlet App gives allocators live performance and risk metrics alongside an A plus to D risk rating for each curated vault. It integrates with more than 150 fintechs and institutions, powering the earn programme of the stablecoin neobank KAST for 500,000 users and yield built directly into the Uniswap app and wallet. Founded by chief executive Tarun Chitra, it raised 125 million dollars in July 2026 from the listed Japanese financial group SBI Holdings as sole investor, following a Series B at a one billion dollar valuation led by Ribbit Capital.

Particula is a digital asset ratings and risk intelligence firm covering tokenised real world assets, stablecoins and digital securities through its published Particula Digital Asset Risk Framework, which applies structured finance principles across legal, operational and technological dimensions. Its monitoring platform evaluates more than ninety smart contract metrics alongside validator distribution, wallet concentration and market liquidity, refreshing on chain inputs in near real time while off chain and issuer supplied data trigger event based updates, with a formal analyst review at least quarterly. Ratings are published as full reports carrying rationale and supporting data, and named assignments include a triple A on the Janus Henderson Anemoy collateralised loan obligation fund token and an upgrade of a Delta Wellington ultra short treasury fund token. In March 2026 it launched the Digital Asset Risk Passport, encoding its ratings as on chain objects that protocols can query and enforce automatically. Allfunds Blockchain named it risk assessment partner for tokenised fund distribution on Solana, the on chain allocator infiniFi mandated it to run its underwriting risk infrastructure, and it has collaborated publicly with Moody's Ratings on operational risk assessment approaches for digital finance. Founded in Munich in December 2022 by chief executive Timm Reinsdorf and chief technology officer Carsten Hermann, it raised 5.5 million dollars in April 2025 and announced a relocation of its headquarters to the United States.