S&P Global backs Kaiko as Series B reaches $110M
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
AI-generated summary based on the linked source; not independently verified. This is not investment advice. Verify market-moving details at the original publisher before acting. See our editorial policy, AI content policy, and financial disclaimer.
Summary
S&P Global led a strategic investment in Paris-based crypto market data provider Kaiko, increasing its Series B funding round to $110 million. The round also included investors such as BNP Paribas, Coinbase Ventures, Nasdaq Ventures, Royal Bank of Canada, and others. Kaiko will use the funding to expand its digital asset market data and onchain financial infrastructure services, with a focus on tokenized financial products.
Why it matters
The investment supports the development of data infrastructure for tokenized financial markets, a growing area as major market operators and financial firms adopt blockchain technology for trading and settlement. Kaiko and its investors plan to collaborate on developing infrastructure and standards for tokenized assets, reflecting a broader industry move toward tokenization and 24/7 markets. The source notes ongoing regulatory interest, such as an SEC roundtable on transitioning to 24-hour trading.
Key context
Kaiko has recently expanded its institutional data offerings through acquiring Cometh and Amberdata and partnering with Bloomberg to bring licensed financial data onchain. The funding round follows significant blockchain adoption initiatives by US market operators like NYSE's parent company ICE, Nasdaq, and DTCC, who are developing infrastructure and services for tokenized securities and assets. The increasing push toward tokenized financial markets is under regulatory scrutiny with planned SEC discussions.
Key numbers and entities
The Series B funding round reached $110 million. Investors include S&P Global, BNP Paribas, Bpifrance, Broadridge, Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar, and Susquehanna Private Equity Investments. Kaiko CEO is Ambre Soubiran. DTCC provides custody services for $114 trillion in securities. SEC roundtable on 24-hour trading is scheduled for September 17.
What remains unclear
The source does not specify the exact allocation of the $110 million funding within Kaiko's projects. Details on the timelines or specific products to be launched using the funding are not provided. It is also unclear what immediate impact the working group led by Kaiko’s investors will have on industry standards or regulatory frameworks.