S&P Global agrees to buy blockchain security firm OpenZeppelin

S&P Global has agreed to acquire web3 security company OpenZeppelin to strengthen its risk assessment capabilities across onchain financial markets and blockchain technology, according to a Sept. 17 press release. Founded in 2015, OpenZeppelin helps developers build and operate secure smart contracts. Its core Contracts library provides audited Solidity components for common functions such as token issuance, access control and upgradeability. The company’s contracts underpin more than $37 trillion in value transferred, while the company has completed over 900 security engagements. S&P Global said OpenZeppelin’s expertise will complement its existing smart contract and onchain technology risk assessment capabilities, while its institutional network and global distribution can help OpenZeppelin reach more traditional financial institutions. The blockchain firm will remain an independent business unit under the OpenZeppelin name, led by Brener. The deal is subject to closing conditions, and neither the purchase price nor other financial terms were disclosed. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our...