S&P Global Expands Into Crypto With OpenZeppelin Deal

The significance lies in the type of firm moving in: a legacy financial data and ratings giant extending its reach from market data into smart contract and protocol security assessment, the layer where onchain asset risk actually sits. That matters for issuers of stablecoins and tokenized funds, who may increasingly face security scrutiny from the same institutions that already grade conventional finance. Whether this signals broader convergence between traditional ratings and onchain risk assessment is the open question to watch.