S&P Global Acquires OpenZeppelin in Push Into Onchain Finance

S&P Global has entered into an agreement to acquire OpenZeppelin, a company that provides smart-contract security reviews and development services. The deal is expected to bring OpenZeppelin's blockchain security tools to S&P Global as the financial industry expands into stablecoins, tokenized funds, and decentralized finance.

The acquisition gives S&P Global greater insight into a type of risk that can be difficult to measure through traditional financial ratings. Smart contracts are pieces of computer code that help blockchain-based products work, and understanding how that code works and whether it has security problems could become important as more banks and asset managers begin using onchain financial products.

OpenZeppelin's smart-contract technology has facilitated over $37 trillion in value transfers over time. The company will remain a separate unit, with CEO Demian Brener continuing to lead the business.