S&P Global reached an agreement to acquire OpenZeppelin, a provider that has completed more than 900 security engagements since its founding in 2015. The acquisition integrates security libraries that underpin $37 trillion in transferred value to expand the ratings giant's onchain risk assessment capabilities. These tools are used by the majority of the world's largest stablecoins and tokenized funds.

OpenZeppelin will operate as a standalone business unit under its own brand and CEO Demian Brener, while keeping its contracts and tools open source on GitHub. This purchase follows S&P Global's participation in Kaiko's $110 million Series B funding round on Monday. Financial terms of the OpenZeppelin acquisition were not disclosed.