From Kaiko to OpenZeppelin, S&P Global is quietly preparing for markets that never close

S&P Global agreed to acquire smart contract security firm OpenZeppelin, expanding its digital asset business into the technology underpinning tokenized finance.On Sept. 17, the financial data and ratings company said that OpenZeppelin will continue operating under its own name as a separate business unit. Chief Executive Demian Brener will remain in charge and report to S&P Global Ratings President Yann Le Pallec.Financial terms were not disclosed, and the transaction remains subject to closing conditions.The deal gives S&P direct exposure to the security layer behind stablecoins, tokenized funds, and decentralized-finance applications. OpenZeppelin’s open-source contracts have supported more than $37 trillion in transferred value, while the company has completed more than 900 security engagements and identified over 10,000 vulnerabilities before production.The acquisition follows a broader push by S&P into digital assets as round-the-clock markets create demand for the data, benchmarks and risk infrastructure needed to support institutional capital on blockchain networks.S&P adds smart-contract risk to its institutional toolkitAs more financial products move on...