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S&P Global to acquire OpenZeppelin in on-chain security expansion

Source Fxstreet

S&P Global has agreed to acquire OpenZeppelin, expanding its risk assessment and intelligence capabilities across digital asset and on-chain markets.
OpenZeppelin’s smart contract library underpins more than $37 trillion in value transferred, alongside over 900 security engagements.
OpenZeppelin will continue operating under its existing name, with CEO Demian Brener retaining leadership of the business unit.

S&P Global (SPGI) has agreed to acquire blockchain security firm OpenZeppelin as the financial data and analytics company expands its on-chain risk assessment capabilities.

S&P Global strengthens focus on blockchain-based markets with OpenZeppelin acquisition

The acquisition, announced Thursday, will bring OpenZeppelin’s smart contract security services, development tools and open-source libraries into S&P Global’s existing digital asset and risk assessment business.

S&P Global stated that the deal will support its efforts to provide security assessments, benchmarks and intelligence as financial markets increasingly adopt blockchain-based infrastructure.

“Our digital assets strategy centers on bringing trusted data, benchmarks and transparent risk assessment to markets as they move on-chain,” said Yann Le Pallec, President of S&P Global Ratings.

OpenZeppelin, founded in 2015, develops security tools and offers assessments for blockchain protocols and financial institutions. Its OpenZeppelin Contracts library has been used in systems responsible for more than $37 trillion in value transferred, including major stablecoins and tokenized funds.

The company has also completed over 900 security engagements involving protocols and institutions across digital asset markets. Its technology is used by both decentralized finance (DeFi) platforms and traditional financial institutions.

“As digital assets and tokenized markets continue to mature, OpenZeppelin’s technology and expertise will complement our smart contract and on-chain technology risk assessment capabilities,” Le Pallec added.

OpenZeppelin to operate as independent unit

Following the transaction, OpenZeppelin will continue operating as an independent business unit under its existing name.

CEO Demian Brener said the acquisition would allow the company to expand its reach among institutions entering blockchain-based markets. Brener will remain CEO and report to Le Pallec.

“OpenZeppelin’s standards, technology, and expertise already power the infrastructure behind the world’s leading stablecoins, tokenized funds, DeFi protocols, and on-chain markets. With S&P Global, that foundation reaches a broader set of organizations entering this market, as well as the blockchain networks and DeFi protocols gaining institutional adoption,” he said.

The companies did not disclose the financial terms of the acquisition. The transaction remains subject to customary closing conditions and is not expected to have a material impact on S&P Global’s financial results.

The acquisition comes as financial institutions and other market participants expand their use of tokenized assets and blockchain infrastructure.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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