S&P 500 · CryptoSlate
From Kaiko to OpenZeppelin, S&P Global is quietly preparing for markets that never close
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S&P Global agreed to acquire smart contract security firm OpenZeppelin, expanding its digital asset business into the technology underpinning tokenized finance.
Key facts
- S&P Dow Jones Indices helped develop the S&P Digital Markets 50 Index, which combines 35 US-listed companies tied to the crypto ecosystem with 15 cryptocurrencies
- Three days earlier, S&P Global led a strategic investment in crypto-data provider Kaiko, extending the company’s Series B funding to $110 million
- On Sept. 17, the financial data and ratings company said that OpenZeppelin will continue operating under its own name as a separate business unit
- Kaiko already provides market data and infrastructure to more than 250 financial firms, institutions and regulators
Summary
01 S&P Global is buying OpenZeppelin days after leading an investment in crypto-data provider Kaiko. 02 The moves broaden S&P’s position across market data, benchmarks and technology risk as financial markets push toward 24/7 trading. 03 The strategy depends on tokenized finance expanding enough to create sustained institutional demand for those services. On Sept. 17, the financial data and ratings company said that OpenZeppelin will continue operating under its own name as a separate business unit.