S&P Global is set to acquire the blockchain security company OpenZeppelin, expanding the financial data, ratings and benchmark providers digital asset capabilities.
The deal announced on Thursday is aimed at complementing S&P Globals risk assessment and ecosystem development capabilities in the digital asset market, it said. Financial terms were not disclosed, and the transaction remains subject to closing conditions.
“Our digital assets strategy centers on bringing trusted data, benchmarks and transparent risk assessment to markets as they move onchain,” S&P Global ratings president Yann Le Pallec said. He added that OpenZeppelin would expand his companys smart contract and onchain technology risk assessment capabilities.
Founded in 2015, OpenZeppelin develops open-source smart contract software and provides security assessments for blockchain projects and financial institutions. Its smart contracts have facilitated more than $37 trillion in value transferred, while the company has completed over 900 security engagements, the announcement notes.
OpenZeppelin said its contracts library and other open-source applications will remain free and publicly maintained on GitHub. The platform will operate as a separate S&P Global business unit, with CEO Demian Brener continuing to lead while reporting to Le Pallec.
Earlier this week, S&P Global led a strategic investment in Kaiko, extending the Paris-based crypto market data providers Series B funding to $110 million as it expands its data infrastructure for tokenized financial markets.