S&P Global Acquires OpenZeppelin for Enhanced Digital Asset Capabilities
S&P Global has announced its plan to acquire blockchain security platform OpenZeppelin. This acquisition aims to expand S&P Global's digital asset capabilities and complement its risk assessment and ecosystem development in the market.
The deal is expected to enhance S&P Global's smart contract and onchain technology risk assessment capabilities, according to Yann Le Pallec, president of S&P Global Ratings. OpenZeppelin has developed open-source smart contract software and provides security assessments for blockchain projects and financial institutions.
Founded in 2015, OpenZeppelin has facilitated more than $37 trillion in value transferred through its contracts, with over 900 security engagements completed. The platform will operate as a separate S&P Global business unit, led by CEO Demian Brener, while reporting to Le Pallec.