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- S&P Global agreed to acquire smart contract security company OpenZeppelin to expand its digital asset risk business into on-chain technology.
- OpenZeppelin Contracts underpin more than $3
S&P Global has agreed to acquire smart contract security company OpenZeppelin, expanding its digital asset risk business into on-chain technology and code security. Financial terms were not disclosed.
The transaction remains subject to closing conditions and is not expected to materially affect S&P Global’s financial results. OpenZeppelin will retain its name and operate as its own business unit after the deal closes.
OpenZeppelin Brings $37T in Smart Contract Activity
Founded in 2015, OpenZeppelin develops open-source smart contract libraries alongside security assessments and development services.
S&P Global said OpenZeppelin Contracts underpin more than $37 trillion in value transferred, including infrastructure used by major stablecoins and tokenized funds. The company has completed more than 900 security engagements and surfaced over 10,000 vulnerabilities before production.
OpenZeppelin Contracts provide reusable implementations for functions including token issuance, access controls and contract upgrades across DeFi protocols, blockchain networks and institutional on-chain products.
S&P Global Expands Digital Asset Risk Into On-Chain Security
S&P Global plans to combine OpenZeppelin’s technology and security expertise with its existing digital asset risk capabilities.
The company said the acquisition will expand its risk assessment work into the on-chain technology layer and support development of new security assessments and benchmarks as financial markets move more activity onto blockchain infrastructure.
OpenZeppelin already works with both crypto-native protocols and traditional financial institutions. Its security services cover smart contracts, blockchain infrastructure and other on-chain systems.
Demian Brener Will Continue Leading OpenZeppelin
OpenZeppelin co-founder and CEO Demian Brener will continue leading the company after the acquisition closes. He will report to Yann Le Pallec, president of S&P Global Ratings. S&P Global said OpenZeppelin will continue operating under its existing name as a separate business unit.
The companies have not announced changes to OpenZeppelin’s open-source Contracts library or existing security services. Completion of the transaction remains subject to closing conditions, with S&P Global yet to disclose a closing date or purchase price.
