S&P Global has agreed to acquire blockchain security company OpenZeppelin. The purchase price was not disclosed, and completion of the transaction is subject to customary conditions. The acquisition is intended to strengthen on-chain risk assessment and ecosystem development.
S&P Global announced on 17 September that it had agreed to acquire blockchain security company OpenZeppelin. The transaction value was not disclosed, and completion is subject to conditions. S&P Global said the acquisition would complement its risk assessment capabilities and strengthen its ability to advance ecosystem development in the digital asset market.
Founded in 2015, OpenZeppelin is regarded as an industry standard for its open-source smart contract libraries and auditing services. The value transferred through these libraries is enormous, while its audit track record exceeds 900 engagements and the number of vulnerabilities it has detected exceeds 10,000. Following the acquisition, OpenZeppelin will remain an independent business unit, with CEO Demian Brener continuing to lead the company.
S&P Global led an investment in crypto market data provider Kaiko on 14 September, while competitor Moody’s has also begun providing on-chain ratings data on Solana, intensifying competition in the on-chain sector. OpenZeppelin’s technology and expertise are expected to complement S&P Global’s capabilities in assessing the risks of on-chain technology.