S&P Global announced the acquisition of blockchain security company OpenZeppelin

According to PR Newswire, S&P Global (NYSE: SPGI) announced the signing of an agreement to acquire the on-chain financial security standards company OpenZeppelin.

OpenZeppelin was founded in 2015 and its open-source smart contract library has supported over $37 trillion in value transfers, covering mainstream stablecoins and tokenized funds globally, and has completed over 900 security audits, identifying more than 10,000 vulnerabilities.

This acquisition will expand S&P Global's assessment capabilities in the on-chain technology risk layer, helping it to build a new generation of on-chain security assessment and benchmarking products. OpenZeppelin will continue to operate as an independent business unit, with CEO Demian Brener remaining in position and reporting to S&P Global's Ratings President Yann Le Pallec. The financial terms of the transaction were not disclosed and are expected to have no significant impact on S&P Global's financial performance.