Key Takeaways
- • Kaiko, a cryptocurrency market data provider, has expanded its Series B funding round to $110 million, led by S&P Global, signaling institutional-grade validation for crypto data infrastructure at scale.
- • The funding syndicate includes 13 major financial institutions: BNP Paribas, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar, Susquehanna Private Equity Investments, and existing investors Anthemis, Point Nine, and Revaia.
- • Kaiko operates as a regulated institutional data provider covering over 150 exchanges and protocols, offering real-time and historical data feeds, APIs, liquidity analytics, pricing indices, and on-chain data infrastructure across digital asset markets.
- • The company will leverage funding to expand data standards and infrastructure for tokenized financial products—including Treasuries, money market funds, equities, and bonds—as financial institutions accelerate blockchain-based capital markets activity.
- • Investors will participate in Kaiko's Strategic Industry Working Group, positioning the round as a partnership to define data governance standards for institutional onchain capital markets rather than a passive financial transaction.
Summary
Kaiko, founded in 2014, has secured an expanded Series B funding round totaling $110 million, led by S&P Global in partnership with a consortium of institutional-grade financial and technology investors. The round represents a significant validation of cryptocurrency market data infrastructure from a legacy financial data giant, reflecting institutional adoption of digital asset markets among traditional capital markets participants.
The funding syndicate encompasses 13 investors across trading, banking, capital markets, and blockchain sectors. Core participants include BNP Paribas, Broadridge, Nasdaq Ventures, Royal Bank of Canada, and DRW Venture Capital, alongside digital asset-native investors Coinbase Ventures and Stellar. Existing shareholders Anthemis, Point Nine, and Revaia participated alongside new institutional entrants Bpifrance, Canton Foundation, and Susquehanna Private Equity Investments.
Kaiko positions itself as a regulated institutional-grade data provider, covering more than 150 exchanges and protocols with comprehensive market data products: real-time and historical data feeds, API infrastructure, liquidity and market-quality analytics, pricing indices, derivatives data, and on-chain data infrastructure. The company's value proposition addresses the operational requirements of institutional participants entering digital asset markets—a constituency increasingly focused on tokenized versions of traditional financial instruments.
CEO Ambre Soubiran characterized the round as a strategic partnership rather than transactional capital deployment, noting that investors represent "core functions of digital asset markets: pricing, trading, capital allocation, and blockchain development." Beyond capital, the syndicate will participate in Kaiko's Strategic Industry Working Group to develop data standards and infrastructure for tokenized products as financial institutions expand exposure to onchain capital markets across Treasuries, money market funds, equities, and bonds. This working group structure suggests Kaiko's positioning as both a data vendor and collaborative standard-setter for emerging institutional blockchain infrastructure.
The funding announcement reflects rising institutional demand for cryptocurrency data services and marks a structural shift toward regulated, institutional-grade data infrastructure as prerequisites for mainstream financial institution participation in digital asset and tokenization markets.
The funding syndicate encompasses 13 investors across trading, banking, capital markets, and blockchain sectors. Core participants include BNP Paribas, Broadridge, Nasdaq Ventures, Royal Bank of Canada, and DRW Venture Capital, alongside digital asset-native investors Coinbase Ventures and Stellar. Existing shareholders Anthemis, Point Nine, and Revaia participated alongside new institutional entrants Bpifrance, Canton Foundation, and Susquehanna Private Equity Investments.
Kaiko positions itself as a regulated institutional-grade data provider, covering more than 150 exchanges and protocols with comprehensive market data products: real-time and historical data feeds, API infrastructure, liquidity and market-quality analytics, pricing indices, derivatives data, and on-chain data infrastructure. The company's value proposition addresses the operational requirements of institutional participants entering digital asset markets—a constituency increasingly focused on tokenized versions of traditional financial instruments.
CEO Ambre Soubiran characterized the round as a strategic partnership rather than transactional capital deployment, noting that investors represent "core functions of digital asset markets: pricing, trading, capital allocation, and blockchain development." Beyond capital, the syndicate will participate in Kaiko's Strategic Industry Working Group to develop data standards and infrastructure for tokenized products as financial institutions expand exposure to onchain capital markets across Treasuries, money market funds, equities, and bonds. This working group structure suggests Kaiko's positioning as both a data vendor and collaborative standard-setter for emerging institutional blockchain infrastructure.
The funding announcement reflects rising institutional demand for cryptocurrency data services and marks a structural shift toward regulated, institutional-grade data infrastructure as prerequisites for mainstream financial institution participation in digital asset and tokenization markets.
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