S&P Global has announced the acquisition of OpenZeppelin – a developer of on-chain financial security solutions. This deal will enable S&P Global to expand its capabilities in assessing the risks of digital assets and create new tools for security assessment, benchmarks, and analytical solutions as the financial market gradually transitions to blockchain infrastructure. OpenZeppelin has a reputation as one of the leaders in blockchain security, with its technologies underpinning asset transfers amounting to over $37 trillion, including most major stablecoins and tokenized funds.
Founded in 2015, OpenZeppelin combines on-chain security audits and secure development services, and offers one of the most popular open-source smart contract libraries – OpenZeppelin Contracts. The company has conducted over 900 audits, identifying more than 10,000 vulnerabilities before products go into production. As part of the deal, OpenZeppelin will maintain its independence and operate as a separate division under its own brand, with CEO Demian Brener continuing in his role under the leadership of Yann Le Pollec, president of S&P Global Ratings.
The financial terms of the deal have not been disclosed, but the parties note that completion is subject to standard conditions. S&P Global does not expect this acquisition to have a significant impact on its financial performance. Company president Yann Le Pollec emphasizes: “Our strategy regarding digital assets focuses on providing verified data, benchmarks, and transparent risk assessment as markets transition to the on-chain environment.” Previously, OpenZeppelin co-founder Manuel Araoz expressed concerns about security issues in the DeFi sector, calling it “dangerous.”
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