S&P Global and Investors Pour $110 Million into Kaiko's Crypto Data Expansion

S&P Global has led a strategic investment in Kaiko, a Paris-based crypto market data provider. The company's Series B funding has been extended to $110 million as it expands its data infrastructure for tokenized financial markets.

The round included multiple investors such as BNP Paribas, Bpifrance, Broadridge, Coinbase Ventures, and Nasdaq Ventures among others. Kaiko CEO Ambre Soubiran stated that the participating investors span several key areas of digital asset markets including pricing, trading, capital allocation, and blockchain development.

The funding will support Kaiko's core digital asset market data business as well as its push into onchain financial infrastructure. This includes data services for tokenized Treasury bills, money market funds, equities, and bonds. The participating investors will also join a Kaiko-led industry working group focused on developing data and infrastructure for tokenized financial products.

This investment comes as major US market operators and financial infrastructure firms expand their use of blockchain technology. Intercontinental Exchange (ICE) signed an agreement with Securitize in March to develop infrastructure and standards for tokenized securities, while Nasdaq received SEC approval to pilot trading of tokenized stocks and ETFs alongside traditional securities.

The Depository Trust & Clearing Corporation (DTCC) conducted production trades using DTC-tokenized assets with more than 30 financial firms ahead of a planned October launch of its tokenization service. The push toward round-the-clock markets has drawn attention from US regulators, with the SEC scheduled to hold a roundtable on September 17.