Kaiko raises $110M in funding round led by S&P Global

S&P Global has led a strategic investment expanding crypto data provider Kaiko's Series B funding round to $110 million. The round attracted major traditional and digital finance backers, including BNP Paribas, Nasdaq Ventures, and Royal Bank of Canada. This collective backing highlights Wall Street's growing commitment to funding the data and infrastructure rails required for 24/7 tokenized markets. To accelerate this integration, S&P Dow Jones Indices and Kaiko launched a co-branded digital asset index suite on September 1, 2026.

Kaiko Series B funding round

• ▪The full deal terms and Kaiko's valuation for the expanded Series B funding round were not disclosed
• ▪Kaiko previously raised $53 million in a 2022 Series B funding round led by Eight Roads, following a $5 million seed round in 2019 and a $24 million Series A in 2021
• ▪S&P Global led a strategic investment in crypto data provider Kaiko, expanding Kaiko's Series B funding round to $110 million

Institutional tokenization infrastructure demand

• ▪Asset managers require consistent, auditable, and manipulation-resistant price data for valuation, regulatory reporting, and constructing digital asset indices
• ▪Traditional financial institutions are shifting from tokenization experimentation to funding the data and infrastructure required for 24/7 onchain markets

S&P Global strategic partnership

• ▪S&P Global's strategic partnership with Kaiko provides S&P Global with a native digital asset data partner to extend its index expertise into crypto benchmarks
• ▪S&P Dow Jones Indices and Kaiko launched a co-branded suite called the S&P Kaiko Digital Asset Indices on September 1, 2026

Kaiko data product offerings

• ▪Kaiko expanded its operations by acquiring DeFi infrastructure provider Cometh and rival data company Amberdata
• ▪Kaiko established itself as a 'Super Validator' in the tokenized finance ecosystem by 2025, verifying and providing data for tokenized asset infrastructure built by banks
• ▪Kaiko provides institutional market data across more than 150 exchanges and protocols, delivering data directly to smart contracts and converting blockchain activity into standardized information

Strategic investor composition

• ▪The expanded Series B funding round was backed by traditional and crypto market participants including BNP Paribas, Nasdaq Ventures, Royal Bank of Canada, Coinbase Ventures, DRW, Susquehanna, Broadridge, Stellar, and Bpifrance
• ▪Participants in Kaiko's funding round are joining a Kaiko-led Strategic Industry Working Group to help shape data standards for tokenized markets

Crypto market data competitive landscape

• ▪Kaiko differentiates itself from competitors by focusing on granular order book data, tick-by-tick trade history across centralized and decentralized venues, and structured API access
• ▪Kaiko competes in the digital asset data market against providers including Bloomberg, Refinitiv, CoinGecko, and CoinMarketCap

Debatable claims

• ▪Wall Street's involvement in crypto infrastructure threatens decentralization
• ▪Traditional financial markets will transition to onchain infrastructure