S&P Global Expands Crypto Capabilities with OpenZeppelin Acquisition
S&P Global has agreed to acquire OpenZeppelin to bolster its crypto and on-chain risk capabilities. The acquisition brings smart contract security into S&P Global's growing digital asset business as financial products and market infrastructure increasingly move on-chain.
OpenZeppelin's Contracts library has been used by infrastructure that facilitated over $37 trillion in value transferred, the companies said. The library is utilized in a variety of blockchain apps, including behind many major stablecoins and tokenized funds.
Aside from that OpenZeppelin has managed over 900 security engagements for protocols and institutions involving digital assets. These encounters have uncovered over 10,000 vulnerabilities pre-production, showcasing its magnitude in catching risks before blockchain applications enter production.