I was just joking at a dinner last night that I haven't seen much crypto M&A recently and wake up to this.
I think this will become a common trend. A lot of big traditional behemoths could build things from scratch, but will instead opt into acquiring digital asset businesses that have spent years perfecting it.
I worked at S&P and things like this can ultimately help update their market data, systems and be baked into their slew of products - at a much faster rate.
These types of M&A can help expand onchain finance adoption more quickly and to a bigger mainstream audience.
Kudos to
@SPGlobal on this one!
Today we are announcing that S&P Global has entered an agreement to acquire OpenZeppelin.
Onchain finance is growing from an emerging market into core financial infrastructure, and the standards and rails our team and community built are becoming the rails of global finance. OpenZeppelin smart contracts facilitated over $37 trillion in value transferred, with the vast majority of the largest DeFi protocols, blockchain networks, stablecoins and tokenized funds relying on them.
With S&P Global, we expect to accelerate the impact of onchain finance, backed by more than a century of trust in global markets, benchmarks, and risk frameworks.
To our clients and to all the users of OpenZeppelin open source tools:
• OpenZeppelin Contracts and all our open source applications and tools remain open source, free, and publicly maintained on GitHub. Building open source standards stays a core priority.
• Audits, engineering work, and ecosystem programs continue with the same team, brand, quality, and customer experience, with what will be the added benefit of S&P Global's research capacity, market data, and institutional reach.
For the last decade, OpenZeppelin has set the security standard for onchain finance. Today begins a new chapter for that mission, together with one of the most trusted names in global markets.
Read the full announcement:
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