S&P Global to acquire blockchain security firm OpenZeppelin

S&P Global has agreed to acquire OpenZeppelin, a blockchain security firm specializing in smart contract development and audits. The acquisition aims to bolster S&P Global’s digital asset capabilities, specifically regarding on-chain technology risk assessment, benchmarks, and intelligence as capital markets transition to blockchain-based infrastructure.

Founded in 2015, OpenZeppelin provides an open-source smart contract library that has facilitated over $37 trillion in value transfers. Its technology is utilized by major stablecoins, tokenized funds, and decentralized finance (DeFi) protocols. The firm has completed more than 900 security engagements, identifying over 10,000 vulnerabilities prior to production.

OpenZeppelin will operate as a separate business unit within S&P Global. CEO Demian Brener will remain in his position, reporting to Yann Le Pallec, President of S&P Global Ratings. The company has stated that its open-source libraries will remain free and publicly maintained on GitHub. Financial terms of the deal were not disclosed.