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- S&P Global agreed to acquire blockchain security company OpenZeppelin to expand its digital-asset business into smart-contract risk.
- OpenZeppelin Contracts underpin more than $37 trillion in value transferred and its technology supports major stablecoins and DeFi protocols.
- OpenZeppelin will operate as a separate business unit under its existing name while financial terms were not disclosed.
S&P Global (NYSE: SPGI) has agreed to acquire blockchain security company OpenZeppelin, expanding its digital-asset business into smart-contract and onchain technology risk. The transaction remains subject to closing conditions, and financial terms were not disclosed. S&P Global said the acquisition is not expected to have a material impact on its financial results.
OpenZeppelin Adds Onchain Security Capabilities
OpenZeppelin provides smart-contract security assessments, development services and open-source software used across decentralized finance and tokenized financial products. S&P Global said OpenZeppelin Contracts underpin more than $37 trillion in value transferred.
The company has also completed more than 900 security engagements that have identified over 10,000 vulnerabilities before production. OpenZeppelin says its technology is used across major stablecoins, tokenized funds, blockchain networks and DeFi protocols.
S&P Global Targets Onchain Risk Assessment
The acquisition is intended to expand S&P Global’s existing risk-assessment capabilities into smart contracts and other onchain technology. Yann Le Pallec, president of S&P Global Ratings, said the company sees digital-asset markets moving closer to traditional financial infrastructure.
“Our digital assets strategy centers on bringing trusted data, benchmarks and transparent risk assessment to markets as they move onchain.”
OpenZeppelin Will Remain a Separate Business Unit
OpenZeppelin will continue operating under its existing name after the transaction closes. CEO Demian Brener will remain in charge and report to Le Pallec.
OpenZeppelin said its Contracts libraries will remain open source, free and publicly maintained. It also said existing security audits, engineering work and ecosystem programs will continue with the same team.
The acquisition follows other digital-asset moves by S&P Global, including a strategic investment in crypto data provider Kaiko and expansion of its digital-asset benchmarks. The OpenZeppelin deal adds blockchain security and technology-risk expertise to that broader business.
