Crypto market-data firm Kaiko has raised $110 million in a new funding round led by financial information giant S&P Global, a sign that mainstream finance is investing heavily in the infrastructure behind digital assets.
The French-founded company, now headquartered in New York, said the capital will be used to expand and refine its datasets, which it says already cover more than 150 cryptocurrency exchanges and protocols. The investor roster includes BNP Paribas, Nasdaq, Royal Bank of Canada, French state-backed investor Bpifrance, and trading firm Susquehanna.
Why big finance is betting on crypto data
For everyday investors, the news may seem niche, but it points to a broader trend: traditional financial institutions are moving beyond simply trading cryptocurrencies and are now spending on the “plumbing” that supports them. Reliable pricing data is essential for everything from valuing portfolios to settling trades and managing risk.
Kaiko is part of a growing ecosystem of firms that aggregate and standardize crypto market data, much like Bloomberg and Reuters do for traditional markets. As more banks, asset managers, and exchanges offer crypto products to their clients, they need trustworthy price feeds that can handle the fragmented and sometimes volatile nature of digital asset markets.
The involvement of S&P Global—a name synonymous with credit ratings and market indices—is particularly notable. It suggests that established financial data providers see crypto as a permanent part of the investment landscape, not a passing fad.
What this means for investors
For the average investor, this funding round is a signal that the infrastructure supporting crypto is maturing. When institutions like S&P Global and major banks put money into data providers, it often leads to better transparency and more reliable pricing, which can benefit everyone who trades or holds digital assets.
It also reflects a broader shift in how traditional finance views crypto. Earlier this year, crypto is quietly reshaping everyday payments, and now the focus is on making sure the data behind those transactions is solid. This is part of a larger trend where global bond yields climb as oil surge fans inflation fears, and investors are looking for assets that can hedge against traditional market risks.
However, it's important to remember that crypto remains a highly volatile and speculative asset class. While better data can improve market efficiency, it doesn't eliminate the risks of price swings or regulatory uncertainty. Investors should always do their own research and consider their risk tolerance before diving into digital assets.
The bigger picture
The funding round comes at a time when traditional finance is increasingly intertwined with crypto. From Hong Kong IPOs to central bank rate decisions, the global financial system is evolving, and crypto is becoming a more accepted part of the mix.
For Kaiko, the new capital will likely help it compete with rivals like CoinMarketCap and CoinGecko, which offer free data but are often seen as less rigorous. By partnering with established financial players, Kaiko is positioning itself as the go-to source for institutional-grade crypto data.
As big finance leans deeper into digital assets, the demand for dependable pricing will only grow. This investment is a bet that Kaiko can meet that demand—and that the crypto market itself is here to stay.
