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S&P Global led an expansion of crypto market-data provider Kaiko's latest funding round to $110 million, as demand grows for infrastructure supporting round-the-clock trading on blockchain rails, Bloomberg reported. Existing and new backers including DRW, Susquehanna, Royal Bank of Canada, Nasdaq, BNP Paribas, Broadridge, Coinbase Ventures, and Stellar also participated in the round.
Why it matters
Kaiko previously raised $53 million in a Series B round led by Eight Roads in 2022. The fresh capital, and the identity of the lead investor, signal how aggressively traditional finance is positioning for always-on digital-asset markets. S&P Global's lead role is the headline: a legacy index and data heavyweight fronting a crypto-native infrastructure round is a posture shift, not a courtesy check.
Market impact
The participant list functions as a sentiment gauge in itself. Major trading firms, a Canadian bank, a European bank, the second-largest US stock exchange, a post-trade processing giant, a US crypto exchange's venture arm, and a major blockchain network all co-invested. For the sector, the read is that institutional demand for institutional-grade market data, indexing, and reference pricing for crypto is no longer a niche budget line; it is becoming a board-level priority.
Frequently asked questions
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How much did Kaiko raise in its latest funding round?
Kaiko expanded its latest funding round to $110 million, led by S&P Global, with DRW, Susquehanna, RBC, Nasdaq, BNP Paribas, Broadridge, Coinbase Ventures, and Stellar also participating.
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Why is the round tied to 24/7 markets?
Bloomberg reports the capital is feeding demand for infrastructure that supports round-the-clock trading on blockchain rails, where crypto markets operate continuously rather than on traditional exchange schedules.
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Who previously led Kaiko's prior funding round?
Kaiko closed a $53 million Series B in 2022 led by Eight Roads, meaning the fresh capital roughly doubles the company's prior fundraising total.
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Why does S&P Global's lead role matter for the sector?
A legacy index and data heavyweight fronting a crypto-native infrastructure round signals that traditional finance is moving from observation to active positioning in always-on digital-asset markets.
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What does the investor roster suggest about institutional demand?
The mix of major trading firms, two global banks, a major US stock exchange, a post-trade processing firm, a crypto exchange's venture arm, and a blockchain network points to institutional-grade crypto market data becoming a board-level priority rather than a niche budget line.
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