Kaiko, a fast‑growing provider of digital‑asset market data, has announced that it has expanded its recent Series B financing round to a total of $110 million. The round now includes a strategic investment from S&P Global, a world‑renowned financial‑information and ratings company, as well as participation from BNP Paribas, one of Europe’s largest banking groups. The additional capital brings the total amount raised in this round to $110 million, up from the $85 million initially disclosed, and underscores the growing confidence of traditional financial institutions in the infrastructure that underpins cryptocurrency markets. The new funding will be directed toward accelerating Kaiko’s roadmap for delivering continuous, high‑frequency market‑data services across a broader range of digital assets and trading venues.
By expanding its data‑collection network, enhancing its processing pipelines, and investing in advanced analytics, Kaiko aims to provide institutional investors, hedge funds, and fintech firms with the same level of reliability, depth, and timeliness that they have come to expect from legacy asset‑class data providers such as Bloomberg or Refinitiv. In practical terms, the company plans to increase the number of exchange connections it supports, add deeper order‑book depth, and introduce real‑time reference‑price calculations that can be used for pricing, risk management, and regulatory reporting.
S&P Global’s involvement is particularly significant because it signals a convergence between traditional financial‑information businesses and the emerging crypto‑data ecosystem. As a leading provider of credit ratings, market indices, and data analytics, S&P Global has been actively exploring ways to incorporate digital‑asset data into its product suite. By taking an equity stake in Kaiko, S&P Global not only secures a reliable source of granular crypto‑market information but also positions itself to embed that data into its own analytics platforms, potentially creating new index products, risk‑assessment tools, and benchmark services that blend conventional and digital assets.
BNP Paribas, meanwhile, brings a deep understanding of the banking sector’s regulatory and compliance requirements. Its participation reflects the bank’s broader strategy to stay ahead of the curve in the digital‑asset space, where transparent and auditable data streams are essential for meeting anti‑money‑laundering (AML) and know‑your‑customer (KYC) obligations.
With Kaiko’s expanded data feed, BNP Paribas can enhance its internal monitoring systems, improve the pricing of crypto‑related products offered to clients, and support its own trading desks that are increasingly active in the crypto markets. Other investors that have already committed to the round include a mix of traditional exchange operators, venture‑capital firms focused on fintech, and strategic corporate partners.
Their collective backing provides Kaiko with not only financial resources but also a network of industry relationships that can accelerate market adoption. The company intends to use part of the proceeds to recruit additional engineering talent, particularly in the areas of distributed‑systems architecture and machine‑learning‑driven data validation, ensuring that the data it supplies remains both accurate and resilient to the high‑velocity nature of cryptocurrency trading.
Industry analysts view the enlarged Series B as a validation of the broader trend toward institutionalization of crypto markets. As more regulated entities—such as banks, asset managers, and custodians—enter the space, the demand for high‑quality, real‑time data has surged.
Unlike retail‑focused price aggregators, Kaiko’s service level agreements (SLAs) guarantee low latency, high uptime, and comprehensive coverage of spot, futures, and options contracts across both centralized exchanges and emerging decentralized finance (DeFi) protocols. This level of service is crucial for firms that need to execute algorithmic strategies, perform real‑time risk assessments, or generate compliance reports that satisfy regulators in multiple jurisdictions.
The expansion also aligns with Kaiko’s longer‑term vision of becoming the go‑to data backbone for the entire digital‑asset ecosystem. In addition to raw market data, the company plans to roll out enriched data products, such as on‑chain analytics, transaction‑flow insights, and sentiment indicators derived from social‑media and news feeds. By integrating these layers of information, Kaiko hopes to provide a more holistic view of market dynamics, helping clients anticipate price movements, detect anomalies, and make more informed investment decisions. From a competitive standpoint, Kaiko’s ability to secure funding from heavyweight players like S&P Global and BNP Paribas sets it apart from other data providers that rely primarily on venture capital.
The endorsement from such established institutions not only brings capital but also credibility, which can be a decisive factor when large financial firms evaluate potential data partners. Moreover, the strategic investors are likely to collaborate on joint product development, co‑branding opportunities, and distribution channels that could accelerate Kaiko’s penetration into markets that were previously difficult to access. Looking ahead, Kaiko’s leadership expects the newly raised capital to fund a multi‑phase growth plan over the next 18 to 24 months. Phase one will focus on scaling the data ingestion infrastructure to handle an estimated 10‑fold increase in message volume as new exchanges and DeFi platforms are added.
Phase two will involve launching a suite of premium analytics tools aimed at institutional traders, while phase three will explore partnerships with regulatory technology (RegTech) firms to embed Kaiko’s data into compliance workflows. In summary, the extension of Kaiko’s Series B round to $110 million, bolstered by strategic investments from S&P Global and BNP Paribas, represents a milestone for both the company and the broader digital‑asset data market.
The infusion of funds and the strategic expertise of the new investors will enable Kaiko to deepen its data coverage, enhance its technology stack, and deliver a richer set of products to a growing base of institutional clients. As the crypto industry continues to mature, reliable, continuous market data will become an indispensable foundation for trading, risk management, and regulatory compliance, and Kaiko is positioning itself to be at the heart of that infrastructure.