S&P Global to Acquire OpenZeppelin in Push to Expand On-Chain Security

S&P Global, the financial information and credit-ratings company, has agreed to acquire smart-contract security firm OpenZeppelin, expanding its risk-assessment capabilities from traditional finance into on-chain markets.

The Block, a digital-asset news outlet, reported on Sept. 17 that S&P Global and OpenZeppelin jointly announced the agreement. The companies said they plan to combine S&P Global’s financial-market infrastructure with OpenZeppelin’s blockchain security technology to support institutions entering the digital-asset market.

Founded in 2015, OpenZeppelin provides open-source smart-contract libraries and security review services. The company said its technology has been used in more than $37 trillion of asset transfers to date. Its infrastructure has also been deployed in major stablecoins and tokenized funds, and it has conducted more than 900 security reviews for digital-asset protocols and institutions.

"OpenZeppelin’s technology and security standards underpin major stablecoins, tokenized funds, decentralized-finance protocols and on-chain markets," Chief Executive Officer Demian Brener said. He added that joining S&P Global would allow the company to provide that infrastructure to more financial institutions and blockchain networks.

Yann Le Pallec, head of S&P Global Ratings, said OpenZeppelin’s technology and expertise would help provide a foundation for traditional financial firms and DeFi companies to build services and transact safely as digital-asset and tokenization markets mature.

After the acquisition closes, OpenZeppelin will continue to operate as an independent business unit under S&P Global. Brener will remain CEO. The companies did not disclose the transaction value, and the deal will be completed after regulatory approvals and other related procedures.