S&P Global launches new DeFi risk framework

• S&P Global Ratings launched a new framework for assessing risks in digital asset lending vaults.
• Vault deposits reached $10 billion in September 2026, up from $1.5 billion two years earlier.
• The framework covers six risks affecting investors in blockchain-based lending vaults.

S&P Global (NYSE:SPGI) has launched a framework to assess risks across digital asset lending vaults.

The Vault Risk Assessment covers credit quality, liquidity, curators, blockchains, protocols and governance.

S&P Global Ratings will publish its initial Vault Risk Assessments in future announcements.

Digital asset vault deposits reached $10 billion in September 2026, up from $1.5 billion two years earlier.

The framework assesses the overall relative risk of investor losses within individual lending vaults.

Vaults pool deposits and deploy capital through defined strategies, using blockchain-based infrastructure and smart contracts.

Depositors receive share tokens representing their proportional claim on vault assets and accrued returns.

Following the announcement, S&P Global shares were trading down 0.49% at $386.27.