On September 14 local time, financial information company S&P Global announced that it had led an additional investment in crypto asset data company Kaiko. The investment was made through S&P Global Ventures, S&P Global's venture investment arm. Kaiko provides banks, asset managers, and other institutions with crypto asset trading prices, market analytics, and indices. According to Kaiko, the investment increased the cumulative amount raised in its Series B round to $110 million. The size of this additional investment and S&P Global's individual investment were not disclosed in the companies' announcements. BNP Paribas, Nasdaq Ventures, Coinbase Ventures, and others also participated.
Kaiko said it currently handles data from more than 150 exchanges and protocols. The company explained that if financial products are to trade on blockchains 24 hours a day, the supporting market data must also be available without interruption. Kaiko's data infrastructure sends market information to smart contracts and converts financial transactions conducted on blockchains into standardized data that can be used in traditional systems. The company plans to use the funding to strengthen its existing data business and expand infrastructure for tokenized markets. Participating institutions will also join an industry working group chaired by Kaiko to discuss the direction of the data and infrastructure needed to operate tokenized products in practice. S&P Global said the two companies had launched a suite of co-branded crypto asset indices in early September and that this investment expands their existing partnership.