S&P Global Buys OpenZeppelin to Secure Crypto Code

S&P Global has made a significant move into the world of cryptocurrency by acquiring OpenZeppelin, a smart contract security firm. The deal, which was announced on September 17, marks S&P's first major foray into digital asset security.

OpenZeppelin provides open-source libraries that have supported over $37 trillion in cumulative digital asset transfers. The company has also completed more than 900 security audits, identifying over 10,000 vulnerabilities before code reached live networks.

The acquisition is part of S&P's broader push into the crypto space, which includes a recent investment in crypto data firm Kaiko and the launch of a co-branded digital asset index suite with Kaiko. OpenZeppelin CEO Demian Brener will stay on to lead the business as its own unit under the OpenZeppelin name.