Kaiko, a source of cryptocurrency data, has expanded its Series B fundraising round to $110 million. S&P Global is heading the most recent investment, along with significant players in the financial and cryptocurrency industries. The funding demonstrates the expanding relationship between digital assets and traditional finance.
After obtaining $53 million, Kaiko first announced its Series B in 2022. Its previous Series A raised $24 million. As financial markets shift more and more toward 24/7 trading and tokenized assets, the new funding will be utilized to bolster Kaiko’s data infrastructure and broaden its offerings.
According to Kaiko, the new investment shows an increasing institutional need for infrastructure that can sustain digital asset markets continuously. In May 2022, the firm announced its Series B financing, which quadrupled its valuation and raised $53 million. The present value of the corporation has not been made public.
A year prior, Anthemis and Underscore VC led Kaiko’s $24 million Series A funding round.
The expanded Series B round now has a total value of $110 million thanks to the most recent fundraising. S&P Global led the latest investment, while BNP Paribas, Coinbase Ventures, Nasdaq, Royal Bank of Canada and Stellar were among the other participants.
The involvement of established financial institutions is notable because it shows how traditional market participants are increasingly investing in the infrastructure supporting digital assets.
Kaiko said it would use the new funds to expand its data infrastructure and support the development of products for the growing 24/7 digital-asset market.
“Digital asset markets operate 24/7,” the company said, adding that the infrastructure supporting those markets must also be able to operate continuously.
The company sees the funding as evidence that institutions involved in traditional capital markets are investing in the data infrastructure needed for tokenized markets.
As financial assets move onto blockchain networks, accurate and reliable market data becomes increasingly important. Investors and institutions need data covering prices, liquidity, trading activity and other market information across a wide range of venues.
Kaiko was founded in France in 2014. The company said its data business currently serves more than 150 exchanges and blockchain protocols.
Its products are designed to provide market data and analytics across the digital-asset ecosystem, giving financial firms and crypto businesses access to information from multiple trading venues and blockchain networks.
The latest investment comes as traditional financial institutions continue to explore the use of blockchain technology and tokenization.
For these institutions, digital assets are increasingly moving beyond the early crypto-native market and into areas that overlap with conventional capital markets. Tokenized securities and other blockchain-based financial products require reliable infrastructure if they are to operate at institutional scale.
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