Enterprise digital asset data provider Kaiko has announced a major strategic funding milestone, expanding its Series B funding round to $110 million. The extended investment round was led by global financial analytics titan S&P Global, marking a major vote of confidence from traditional financial institution heavyweights into blockchain market infrastructure. The capital influx comes four years after Kaiko initially raised $53 million in its original Series B, highlighting sustained momentum in institutional crypto data analytics.
The extension features participation from a distinguished group of global financial institutions, including French investment bank BNP Paribas, public investment bank Bpifrance, capital markets technology provider Broadridge, and enterprise network Canton. This strategic coalition reflects a growing alignment between traditional financial infrastructure providers and the emerging digital asset ecosystem.
Strengthening Infrastructure for 24/7 Tokenized Markets
As capital markets increasingly transition toward digital and tokenized formats, the boundary between traditional finance and decentralized architecture continues to dissolve. Kaiko revealed that the fresh capital will be deployed to expand its enterprise market-data business and enhance underlying data infrastructure specifically engineered for 24/7 tokenized markets.
Unlike traditional equities or commodities exchanges that operate within set business hours, digital asset markets run continuously around the clock. Developing robust, fault-tolerant data pipelines capable of handling real-time price discovery, liquidity tracking, and trade execution data without interruption is critical for institutional participation.
Tokenization—the process of creating digital representations of real-world assets like treasury bonds, corporate debt, real estate, and private equity on blockchain networks—demands accurate and verified pricing inputs. S&P Global’s leadership role in the funding round signals that global rating and benchmark standards are expanding directly into on-chain environments.
The Strategic Convergence of TradFi and Digital Assets
The involvement of S&P Global underscores a broader structural trend across financial technology: traditional financial (TradFi) incumbents are actively building, investing in, and acquiring the data capabilities required for digital assets. As standard-setters in global indices and credit ratings, S&P Global brings institutional credibility and rigorous analytical frameworks to crypto market data.
By strategic backing of Kaiko, legacy institutions gain direct exposure to real-time crypto market data feeds, regulatory compliance tools, and cross-venue pricing algorithms. For Kaiko, integrating traditional market veterans into its cap table facilitates direct access to enterprise clients, such as asset managers, hedge funds, commercial banks, and financial regulatory agencies needing reliable digital asset metrics.
Four Years of Institutional Market Maturation
Kaiko originally closed its $53 million Series B round four years ago during a significantly different market climate. At that time, institutional interest in digital assets was largely exploratory. Since then, the macroeconomic environment and regulatory framework surrounding cryptocurrencies have matured dramatically.
The landmark approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs) in major financial jurisdictions, combined with new regulatory frameworks like Europe’s Markets in Crypto-Assets (MiCA) regulation, has catalyzed sophisticated capital entry into the space. Rather than initiating an entirely new Series C round, extending the Series B allows Kaiko to systematically scale its existing products while tightening integration with strategic partners.
Over the past four years, Kaiko has steadily widened its product line beyond raw trade feeds, offering comprehensive historical market data, centralized and decentralized exchange order book metrics, customized reference rates, and operational risk metrics designed for institutional compliance.
Key Strategic Priorities for Capital Deployment
With total Series B funding now raised to $110 million, Kaiko plans to prioritize several critical operational areas to support institutional adoption:
- Continuous Data Integrity: Enhancing data aggregation engines to handle continuous, high-frequency streams of on-chain and off-chain data with zero latency or downtime.
- Real-World Asset (RWA) Pricing: Creating standard valuation and benchmark methodologies for tokenized bonds, commodities, and structured financial products.
- Compliance & Regulatory Standardisation: Providing verifiable, auditable datasets required for institutional accounting, tax auditing, and cross-border regulatory reporting.
- Cross-Market Analytics: Merging order book data from traditional financial feeds with decentralized exchange (DEX) liquidity metrics to empower hybrid portfolio management tools.
The Path Ahead for On-Chain Capital Markets
The investment led by S&P Global alongside BNP Paribas and Broadridge illustrates that the institutionalization of digital assets has advanced beyond basic token trading. The industry focus has firmly shifted toward building the foundational infrastructure required for continuous, globally interconnected financial markets.
As global asset managers shift asset issuance and settlement toward blockchain networks, enterprise data providers like Kaiko remain essential intermediaries. With $110 million in Series B funding secured, Kaiko is well-positioned to serve as a primary data backend for the next generation of digitized capital markets.
