Kaiko, the London‑based provider of digital‑asset market data, has announced a significant upsizing of its Series B financing round, now totaling $110 million. The round is anchored by a high‑profile roster of investors that includes the financial‑rating powerhouse S&P Global, the French banking giant BNP Paribas, and a selection of leading traditional banks and exchange operators. This infusion of capital is earmarked to accelerate Kaiko’s strategic expansion into continuous market‑data services, a move that reflects the growing demand for real‑time, high‑quality data in the rapidly evolving cryptocurrency and digital‑asset ecosystem.
The decision by S&P Global to join the financing round marks a notable shift for the rating agency, which has historically focused on conventional financial markets. By aligning itself with Kaiko, S&P Global signals a recognition that digital assets are moving from the periphery toward mainstream finance, requiring the same rigor, transparency, and reliability that the agency has long championed in traditional markets. This partnership also opens the door for potential collaborations on data standardisation, risk assessment frameworks, and regulatory reporting tools that could benefit both legacy financial institutions and emerging crypto‑focused firms. BNP Paribas, one of Europe’s largest banks, brings not only capital but also deep expertise in market infrastructure and a broad client base that is increasingly interested in crypto‑related services.
The bank’s involvement underscores the growing appetite among established financial players to integrate digital‑asset data into their trading, custody, and advisory platforms. By supporting Kaiko’s development of continuous market‑data feeds, BNP Paribas aims to enhance its own product offerings, giving its corporate and institutional clients access to granular, real‑time information that can inform trading strategies, risk management, and compliance. In addition to S&P Global and BNP Paribas, the round attracted participation from a consortium of traditional banks and exchange operators that have been closely monitoring the digital‑asset space.
These participants recognize that reliable, high‑frequency data is a critical infrastructure component for everything from algorithmic trading and market‑making to regulatory reporting and audit trails. Their collective backing provides Kaiko with not just financial resources but also strategic insights into the operational needs of large‑scale financial institutions. Kaiko’s core business revolves around aggregating, normalising, and distributing market‑data from a wide array of cryptocurrency exchanges worldwide.
The company’s data sets include trade‑by‑trade information, order‑book snapshots, and derived metrics such as volume‑weighted average price (VWAP) and market depth. Historically, many market participants have relied on fragmented data sources that vary in quality, latency, and coverage. Kaiko’s value proposition lies in delivering a unified, high‑quality data stream that can be trusted for both front‑office trading decisions and back‑office compliance functions. The newly raised funds will be deployed across several key initiatives.
First, Kaiko plans to expand its data‑collection infrastructure, adding new exchange connections and enhancing its ability to capture ultra‑low‑latency data. This will involve scaling server capacity, improving data‑ingestion pipelines, and investing in advanced data‑validation algorithms that can detect anomalies or manipulation attempts in real time. Second, the company intends to develop a suite of continuous market‑data services that go beyond static snapshots, offering clients live, tick‑by‑tick updates that can be integrated directly into trading engines and risk‑management platforms. Another focal point of the investment is product innovation.
Kaiko aims to introduce new analytics tools that leverage machine‑learning techniques to generate predictive insights, sentiment indicators, and anomaly detection alerts. These tools will be packaged as APIs and dashboards, enabling institutional traders, hedge funds, and fintech firms to embed sophisticated data analytics into their existing workflows without the need for in‑house data science teams. Regulatory compliance is also a major driver of Kaiko’s roadmap. As regulators across the United States, Europe, and Asia tighten reporting requirements for crypto‑related activities, firms need auditable, immutable data trails.
Kaiko’s expanded data‑services will include built‑in compliance modules that can automatically generate the necessary reports for entities such as the SEC, FCA, and MAS, reducing the operational burden on their clients. From a market‑size perspective, the demand for high‑quality crypto market data is projected to grow exponentially. According to industry analysts, the global market‑data services market for digital assets could exceed $5 billion by 2028, fueled by increasing institutional adoption, the rise of decentralized finance (DeFi), and the emergence of tokenised securities. Kaiko’s positioning as a trusted data provider places it at the centre of this growth trajectory, and the $110 million Series B round provides the financial runway needed to capture a larger share of this expanding market.
The involvement of S&P Global also hints at potential future collaborations on data‑rating methodologies for crypto assets. By combining Kaiko’s granular market data with S&P’s expertise in credit and risk assessment, the two firms could co‑create rating models that evaluate the creditworthiness of tokenised bonds, stablecoins, and other crypto‑linked financial instruments. Such models would be invaluable for lenders, insurers, and investors seeking to navigate the risk landscape of digital assets. In summary, Kaiko’s extended Series B financing round, now totalling $110 million, represents a pivotal moment for the company and the broader digital‑asset ecosystem.
Backed by heavyweight investors such as S&P Global and BNP Paribas, Kaiko is poised to accelerate its development of continuous market‑data services, expand its infrastructure, and introduce innovative analytics and compliance solutions. This strategic infusion of capital not only validates the growing importance of reliable crypto data but also underscores the convergence of traditional finance and the emerging digital‑asset world, heralding a new era of data‑driven decision‑making in the market.