S&P Global has announced the acquisition of OpenZeppelin, a company specializing in open-source smart contract security. The deal marks the second crypto-related investment for the ratings giant within three days, following its participation in a $110 million funding round for the data provider Kaiko. The financial terms of the OpenZeppelin purchase were not disclosed.
OpenZeppelin has operated since 2015, providing infrastructure for stablecoins, DeFi protocols, and tokenized funds. According to company data, its code has facilitated transactions exceeding $37 trillion in value. The firm has conducted over 900 security audits and identified more than 10,000 vulnerabilities in smart contracts.
CEO Demian Brener will retain his position and report to Yann Le Pallec, president of S&P Global Ratings. This acquisition expands S&P Global's capabilities from assessing financial products to auditing the underlying blockchain code. The company previously issued credit ratings for DeFi protocols and tokenized assets.
The acquisition follows a period of significant security challenges in the sector. Data from CoinGecko indicates that protocols with prior independent audits accounted for 88% of funds stolen in 245 incidents between January 2025 and July 2026. These security breaches resulted in total losses of $3.63 billion during that period.
