🚨 A rating giant has acquired an on-chain security company—code worth $3.7T has a new owner
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What’s truly worth pondering isn’t the transaction’s size, but the first time Wall Street has put “on-chain risk” on the table with an explicit price tag 🏦
On September 17, S&P Global announced it has reached an agreement to acquire the blockchain security company OpenZeppelin. The deal amount was not disclosed and is still subject to closing conditions. OpenZeppelin will continue operating under its original name as an independent business unit, and founder Demian Brener will remain in his role, reporting directly to Yann Le Pallec, President of S&P Global Ratings.
First layer: OpenZeppelin’s weight is all in the numbers 🔗 Since its founding, its open-source contract library, OpenZeppelin Contracts, has facilitated the flow of value totaling more than $3.7T. The company has completed over 900 security audits and has blocked more than 10,000 issues before they could enter production environments.
Second layer: this wasn’t a spur-of-the-moment move. S&P previously made strategic investments in market data company Kaiko, conducted assessments of stablecoin stability, and even helped build DeFi credit rating frameworks. Buying OpenZeppelin means extending the methodology of credit ratings all the way into the code layer of on-chain assets.
Third layer: look at the structure 🧱 The open-source libraries will continue to be free, publicly maintained, and available long-term. This is something said to developers—and also a reassurance to the market.
Of course, some argue that a rating agency acquiring an open-source library has little to do with ordinary token holders. I also can’t say I fully understand how it will monetize years from now. But the data is right there: in the on-chain world, the most fundamental trust component is being absorbed into the traditional rating system.
What’s really worth watching isn’t the acquisition price, but the moment on-chain assets are first placed into the coordinate system of traditional credit ratings.
One camp says this is a milestone for crypto’s mainstream acceptance; the other says it’s the beginning of a narrative being repriced. Which side are you on? 👇
Click the avatar to watch the livestream + join the Jiujiu chat group for daily strategies 🚀
#RWA #DeFi #比特币 #BTC
Group: 点击进入玖玖的粉丝群
What’s truly worth pondering isn’t the transaction’s size, but the first time Wall Street has put “on-chain risk” on the table with an explicit price tag 🏦
On September 17, S&P Global announced it has reached an agreement to acquire the blockchain security company OpenZeppelin. The deal amount was not disclosed and is still subject to closing conditions. OpenZeppelin will continue operating under its original name as an independent business unit, and founder Demian Brener will remain in his role, reporting directly to Yann Le Pallec, President of S&P Global Ratings.
First layer: OpenZeppelin’s weight is all in the numbers 🔗 Since its founding, its open-source contract library, OpenZeppelin Contracts, has facilitated the flow of value totaling more than $3.7T. The company has completed over 900 security audits and has blocked more than 10,000 issues before they could enter production environments.
Second layer: this wasn’t a spur-of-the-moment move. S&P previously made strategic investments in market data company Kaiko, conducted assessments of stablecoin stability, and even helped build DeFi credit rating frameworks. Buying OpenZeppelin means extending the methodology of credit ratings all the way into the code layer of on-chain assets.
Third layer: look at the structure 🧱 The open-source libraries will continue to be free, publicly maintained, and available long-term. This is something said to developers—and also a reassurance to the market.
Of course, some argue that a rating agency acquiring an open-source library has little to do with ordinary token holders. I also can’t say I fully understand how it will monetize years from now. But the data is right there: in the on-chain world, the most fundamental trust component is being absorbed into the traditional rating system.
What’s really worth watching isn’t the acquisition price, but the moment on-chain assets are first placed into the coordinate system of traditional credit ratings.
One camp says this is a milestone for crypto’s mainstream acceptance; the other says it’s the beginning of a narrative being repriced. Which side are you on? 👇
Click the avatar to watch the livestream + join the Jiujiu chat group for daily strategies 🚀
#RWA #DeFi #比特币 #BTC
