Kaiko's Series B Funding Soars to $110M with S&P Global Leading Investment
Crypto data provider Kaiko secures strategic investment led by S&P Global, pushing Series B funding round to $110 million amid growing Wall Street interest in tokenized financial markets.
In a strategic investment led by S&P Global, Kaiko has extended its Series B funding round to $110 million. The Paris-headquartered crypto market data provider plans to use the capital to expand its data infrastructure capabilities for tokenized financial markets.
Additional participants in the funding round included BNP Paribas, Bpifrance, Broadridge, Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar and Susquehanna Private Equity Investments.
According to Kaiko, the capital raised will be deployed to strengthen its core digital asset market data operations while advancing its expansion into onchain financial infrastructure. This includes developing data services for tokenized assets such as Treasury bills, money market funds, equities and bonds.
The company announced that the investing participants would also become members of an industry working group spearheaded by Kaiko, which will concentrate on creating data and infrastructure solutions for tokenized financial products.
Ambre Soubiran, CEO of Kaiko, noted that the investor group represents multiple critical segments of digital asset markets, encompassing pricing, trading, capital allocation and blockchain development. She emphasized that these investors would function as strategic partners in constructing infrastructure for institutional onchain finance.
This funding announcement arrives after Kaiko has executed several strategic initiatives to broaden its institutional data offerings. The firm completed the acquisition of Cometh, a MiCA-regulated onchain infrastructure provider, in May, followed by the purchase of Amberdata, a US digital asset data provider, in June. These acquisitions came after Kaiko established a partnership with Bloomberg in February to deliver licensed financial data onchain.
Wall Street moves closer to tokenization
The investment in Kaiko arrives at a time when major US market operators and financial infrastructure companies are increasingly adopting blockchain technology for trading, settlement and collateral management purposes.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, entered into an agreement with Securitize in March to build infrastructure and establish standards for tokenized securities. This agreement complements ICE's January announcement of plans for a tokenized securities trading platform engineered to enable 24/7 trading and instant settlement.
During the same month, Nasdaq obtained SEC approval to conduct a pilot program for trading tokenized stocks and ETFs alongside traditional securities. Additionally, Nasdaq formed a partnership with Payward, Kraken's parent company, to build infrastructure that bridges regulated equity markets with onchain tokenized equities.
In July, the Depository Trust & Clearing Corporation (DTCC) executed production trades utilizing DTC-tokenized assets with more than 30 financial firms in preparation for a planned October launch of its tokenization service. DTC, operating as a DTCC subsidiary, offers custody and asset servicing for $114 trillion in securities.
The movement toward round-the-clock markets has captured the attention of US regulators. The SEC has scheduled a roundtable for Sept. 17 to discuss preparations for 24-hour trading in US equities. Topics on the agenda include market readiness, operational resilience, investor protections and potential future expansion toward 24/7 trading.
