Crypto data startup Kaiko raises $110 million in funding led by S&P Global

Crypto data startup Kaiko has raised $110 million in a strategic funding round led by S&P Global, bringing some of the biggest names in banking, exchanges, trading, and blockchain deeper into the infrastructure behind tokenized finance.

The 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. Existing investors Anthemis, Point Nine, and Revaia participated too.

The investor list is what makes the deal stand out.

These are institutions that already sit across the machinery of global finance, from pricing and trading to settlement, capital allocation, and market infrastructure. Their backing suggests that Wall Street’s interest in crypto is moving beyond bitcoin and speculative trading into something more structural: building the data systems needed for markets that operate onchain around the clock.

Kaiko said the investment extends its Series B financing to $110 million.

The company is pairing the funding with a new Strategic Industry Working Group chaired by Kaiko. Participating institutions will join discussions on the data and infrastructure needed to bring tokenized financial products into production.

Wall Street is funding the plumbing for tokenized markets

Founded in France in 2014 and now based in New York, Kaiko provides market data, analytics, indices, and infrastructure covering more than 150 exchanges and crypto protocols.

Its core business has historically focused on institutional-grade digital asset data. Kaiko is now pushing deeper into onchain finance, where traditional assets such as Treasury bills, money market funds, equities, and bonds can be represented and traded using blockchain infrastructure.

That creates a new data problem.

Crypto markets run 24 hours a day, seven days a week. Traditional financial data systems were built around markets with opening bells, closing times, and established settlement windows. Tokenized markets blur those boundaries and require continuous pricing, valuation, analytics, and data delivery.

Kaiko says its infrastructure can deliver market data directly to smart contracts, convert blockchain activity into standardized off-chain datasets, and support confidential valuation and analytics for institutions.

“The investors in this strategic round work across the core functions of digital asset markets: pricing, trading, capital allocation, and blockchain development,” Kaiko CEO Ambre Soubiran said. “These are partners, not just shareholders. Together we will define how institutional money moves onchain.”

S&P Global’s involvement adds weight to the deal. The financial data giant recently worked with Kaiko on the S&P Kaiko Digital Asset Indices, linking Kaiko’s crypto market expertise with one of the most established benchmark providers in global finance.

“As digital assets accelerate, S&P Global is investing for the future, and this investment underscores that conviction,” said Cathy Clay, CEO of S&P Dow Jones Indices.

Kaiko has also been building its position through acquisitions. The company recently bought Cometh, a regulated DeFi infrastructure provider, and Amberdata, a digital asset data company that Kaiko described as its largest U.S. competitor, Reuters reported. It has also been working with Bloomberg on improving access to onchain data for tokenized markets.

The company carries regulatory credentials that matter to institutional customers. Kaiko Indices is authorized under the European Union’s Benchmark Regulation, and Cometh is authorized in France as a crypto-asset service provider under MiCA. Kaiko says it also holds SOC 1 and SOC 2 Type 2 attestations.

The larger signal from the funding round is hard to miss. Banks, exchanges, trading firms, and market-data companies are no longer simply watching tokenization from the sidelines.

They are starting to finance the infrastructure they may eventually depend on.