Financial Data Giant S&P Global Moves Deeper Into Crypto With OpenZeppelin Deal

In brief

• S&P Global has agreed to acquire smart contract security firm OpenZeppelin.
• OpenZeppelin’s code libraries have underpinned more than $37 trillion in value transferred through stablecoins, tokenized funds, and DeFi protocols.
• Financial terms were not disclosed, and S&P Global said the deal is not expected to materially affect its financial results.

Credit ratings giant S&P Global has agreed to acquire smart contract security firm OpenZeppelin, expanding its risk assessment business to the code underpinning tokenized financial products.

Announced on Thursday, the deal will give S&P Global access to OpenZeppelin’s smart contract security tools and technical expertise as banks and asset managers move more financial products onto blockchain networks.

"As digital assets and tokenized markets continue to mature, OpenZeppelin's technology and expertise will complement our smart contract and onchain technology risk assessment capabilities, giving traditional financial institutions and DeFi-native companies alike the confidence to build and transact in this new environment,” Yann Le Pallec, President, S&P Global Ratings, said in a statement.

While the terms of the deal were not disclosed, S&P Global says its digital assets strategy centers on “bringing trusted data, benchmarks and transparent risk assessment to markets as they move onchain."