Kaiko, the Paris‑based provider of digital‑asset market data, has announced that its Series B financing round has been enlarged to a total of $110 million. The round now includes a strategic investment from S&P Global, the world‑renowned financial‑information and ratings firm, alongside participation from BNP Paribas, one of Europe’s largest banks, and a consortium of established exchange operators and technology partners. This infusion of capital is earmarked for accelerating Kaiko’s roadmap to deliver a seamless, real‑time data infrastructure for the rapidly evolving cryptocurrency ecosystem.
The decision to broaden the funding round reflects both the heightened demand for reliable, high‑frequency market data in the digital‑asset space and Kaiko’s proven ability to meet that demand. Over the past few years, the firm has built a robust suite of APIs that aggregate trade, order‑book, and reference‑price information from more than 150 cryptocurrency exchanges worldwide.
By standardising disparate data streams, Kaiko enables institutional investors, hedge funds, and fintech firms to incorporate crypto‑derived signals into their analytics, risk‑management, and trading strategies with the same confidence they place in traditional asset‑class data. S&P Global’s involvement is particularly noteworthy because it signals a convergence between conventional financial‑services infrastructure and the nascent crypto market.
As a provider of credit ratings, indices, and market intelligence, S&P Global has been actively exploring ways to integrate digital‑asset data into its broader analytics platform. By taking an equity stake in Kaiko, S&P Global not only gains direct access to a high‑quality data source but also positions itself to shape the standards and governance frameworks that will underpin crypto market reporting for years to come. BNP Paribas, which has been expanding its digital‑asset capabilities through both proprietary research and strategic partnerships, sees Kaiko’s technology as a critical component of its own data‑delivery pipeline.
The bank plans to leverage Kaiko’s APIs to enrich its client‑facing dashboards, offering real‑time price feeds, liquidity metrics, and historical trade analytics across a wide range of tokens and decentralized finance (DeFi) protocols. This collaboration is expected to enhance BNP Paribas’s value proposition for corporate clients seeking exposure to crypto‑related assets while maintaining rigorous compliance and risk‑control standards.
In addition to S&P Global and BNP Paribas, the extended round attracted participation from several exchange operators that have already integrated Kaiko’s services into their market‑data offerings. These partners include both legacy exchanges that are diversifying into digital assets and pure‑play crypto venues looking to improve the reliability of their public data feeds. Their continued support underscores the industry‑wide recognition that accurate, low‑latency data is a prerequisite for market integrity, especially as trading volumes and algorithmic activity surge.
The $110 million raised will be allocated across three primary growth pillars. First, Kaiko will invest heavily in its data‑collection infrastructure, expanding its network of nodes and improving redundancy to ensure uninterrupted coverage even during periods of extreme market volatility.
Second, the company plans to enhance its analytics suite by adding advanced statistical models, machine‑learning‑driven anomaly detection, and customizable alerting mechanisms. These tools will help clients identify price manipulation, sudden liquidity drains, or emerging arbitrage opportunities more quickly than ever before. Third, Kaiko intends to broaden its geographic footprint by establishing regional data‑centres in North America, Asia‑Pacific, and the Middle East.
Localised infrastructure will reduce latency for institutional users operating in those markets and comply with emerging data‑sovereignty regulations. The firm also aims to recruit top talent in data engineering, quantitative research, and compliance to support its expanding product roadmap. Industry observers note that Kaiko’s expanded funding round arrives at a pivotal moment for the digital‑asset sector. Regulatory scrutiny is intensifying, and investors are demanding greater transparency and auditability of price feeds used in derivatives contracts, index construction, and custody valuations.
By delivering a single source of truth that aggregates and normalises data from a multitude of exchanges, Kaiko is well‑positioned to become the de‑facto standard for institutional-grade crypto market data. The partnership with S&P Global also opens the door for collaborative research initiatives aimed at developing new crypto‑focused indices and benchmarks.
Such indices could serve as the basis for exchange‑traded products, mutual funds, and ETFs, further bridging the gap between traditional finance and the blockchain economy. Meanwhile, BNP Paribas’s involvement may accelerate the rollout of bespoke data solutions for its corporate and wealth‑management divisions, enabling them to offer crypto‑related advisory services with the same level of rigor applied to equities or fixed income. Kaiko’s CEO emphasized that the expanded round is not merely a financial milestone but a strategic inflection point.
"Our mission has always been to bring the same level of data quality and reliability to crypto that investors have come to expect from traditional markets," she said. "With the backing of S&P Global, BNP Paribas, and our exchange partners, we can accelerate the development of a truly continuous, real‑time data ecosystem that supports everything from high‑frequency trading to long‑term portfolio analysis." Looking ahead, Kaiko expects to launch a suite of new products over the next 12‑18 months, including a real‑time reference price service for over‑the‑counter (OTC) trades, a DeFi liquidity index, and a suite of compliance‑focused APIs that flag transactions potentially linked to sanctioned entities or illicit activity.
These offerings are designed to meet the evolving needs of regulators, custodians, and market participants who require granular visibility into the crypto market’s microstructure. In summary, the enlarged $110 million Series B round, bolstered by strategic investors such as S&P Global and BNP Paribas, provides Kaiko with the financial muscle and industry credibility to scale its infrastructure, enrich its analytics, and expand globally.
As the digital‑asset market matures, Kaiko’s commitment to delivering high‑quality, continuous market data positions it as a cornerstone of the emerging financial ecosystem, enabling a new generation of investors to navigate the crypto landscape with confidence and precision.