S&P Global has agreed to acquire OpenZeppelin, a blockchain and smart contract security company whose technology is widely used across stablecoins, tokenized assets and decentralized finance.
Financial terms were not disclosed, and S&P Global said the acquisition is not expected to have a material impact on its financial results.
The transaction expands S&P Global’s risk-assessment capabilities into the technology layer underlying onchain financial markets as traditional capital markets increasingly experiment with tokenization and blockchain infrastructure.
Founded in 2015, OpenZeppelin combines smart contract security assessments, secure development services and one of the industry’s most widely used open-source smart contract libraries.
OpenZeppelin Contracts have supported more than $37 trillion of value transferred, including infrastructure behind many major stablecoins and tokenized funds. The company has also completed more than 900 security engagements.
OpenZeppelin said those engagements have identified more than 10,000 vulnerabilities before production.
Its technology is used by blockchain networks, decentralized finance protocols, financial institutions and enterprises seeking to secure systems involving smart contracts and digital assets.
For S&P Global, adding OpenZeppelin extends its existing focus on ratings, benchmarks, data and risk intelligence into the security of the software infrastructure underpinning tokenized markets.
The combination is intended to support new onchain security assessments and benchmarks while giving OpenZeppelin access to S&P Global’s institutional customer base and international distribution.
OpenZeppelin will continue operating as a standalone business unit under its existing name. CEO Demian Brener will remain in charge and report to Yann Le Pallec, President of S&P Global Ratings.
KEY QUOTES:
“Our digital assets strategy centers on bringing trusted data, benchmarks and transparent risk assessment to markets as they move onchain. As digital assets and tokenized markets continue to mature, OpenZeppelin’s technology and expertise will complement our smart contract and onchain technology risk assessment capabilities.”
Yann Le Pallec, President of S&P Global Ratings
“OpenZeppelin’s standards, technology, and expertise already power the infrastructure behind the world’s leading stablecoins, tokenized funds, DeFi protocols, and onchain markets. With S&P Global, that foundation reaches a broader set of organizations entering this market.”
Demian Brener, CEO of OpenZeppelin
