S&P Global has agreed to acquire OpenZeppelin, the smart-contract security company whose open-source code libraries are widely used across Ethereum and other networks. Financial terms were not disclosed, and S&P Global said the deal is not expected to have a material effect on its results.

OpenZeppelin will continue as a separate business unit under its own name. Chief executive Demian Brener will keep leading the company and report to Yann Le Pallec, president of S&P Global Ratings. OpenZeppelin says more than $37 trillion has moved through contracts built with its libraries and that it has completed over 900 security engagements.

S&P Global said the acquisition extends its risk assessment into the technology layer of onchain finance. For a ratings agency, the security of the code behind a tokenized fund or stablecoin is becoming part of the credit question, alongside the issuer and the underlying assets.

For OpenZeppelin, the parent company offers institutional relationships and global distribution into traditional finance. The combination points to smart-contract audits becoming an input to formal risk assessment. The next step is closing the transaction and showing how the two businesses' work will connect.