S&P Global, one of the world’s leading financial intelligence giants, has just staked its claim in the crypto ecosystem in a way that leaves no doubt about its intentions. The firm is leading Kaiko’s Series B round, propelling the crypto data fintech’s valuation to an unprecedented level.

This is not just a check — it is a powerful signal sent to the entire industry. Wall Street is no longer watching crypto from a distance. It is investing directly, and it is betting on the data infrastructure that will power tomorrow’s tokenized markets.

Behind this massive funding round lies a very deliberate strategy, sitting squarely at the intersection of traditional finance and onchain digital assets.

Kaiko Raises $110 Million With S&P Global Leading the Round

Kaiko, the Paris-based crypto market data platform, has closed a $110 million Series B led by S&P Global. The round also brings together other major financial institutions, further cementing Kaiko‘s position as the go-to data provider for institutional players looking to navigate digital asset markets.

Founded in 2014, Kaiko aggregates real-time market data from dozens of centralized and decentralized exchanges. Its coverage spans order books, trading volumes, bid-ask spreads, and historical data — all critical indicators for institutional trading desks, asset managers, and regulators. With this fresh capital, the company plans to accelerate its expansion into tokenized securities and onchain financial markets.

The direct involvement of S&P Global — which has been rating and analyzing global financial markets for over a century — gives this funding round significant symbolic weight. It validates the idea that crypto data infrastructure is now regarded as a strategic asset by the world’s largest traditional financial institutions.

Wall Street Accelerates on Tokenized Markets: Why Kaiko Is at the Center of It All

The tokenization of real-world assets (RWA) is steadily emerging as one of the most powerful structural themes in the crypto industry. From government bonds and money market funds to real estate and equities, major financial players are looking to migrate entire segments of their activity onto blockchain rails. But for these markets to function, they need reliable, granular, and auditable data — which is precisely what Kaiko delivers.

It is in this context that S&P Global‘s investment makes complete sense. The firm is not simply observing the trend — it is positioning itself ahead of it, funding the data layer that will make these markets readable and comparable for institutional investors. Kaiko thus becomes an essential link between traditional finance and the DeFi and onchain ecosystem.

For the broader crypto ecosystem, this signal is hard to ignore. Following the launch of spot Bitcoin ETFs in the United States and the gradual integration of stablecoins into payment systems, the race to control the data infrastructure of tokenized markets is now officially underway — and those who dominate it will hold a significant competitive advantage in the next phase of institutional adoption.

What This Funding Round Reveals About the Maturity of the Crypto Market

A $110 million round led by an institution as conservative as S&P Global does not happen by chance. It reflects a convergence of factors: growing regulatory clarity across multiple jurisdictions, rising institutional appetite for digital assets, and the increasing credibility of onchain markets as a genuine alternative to traditional financial infrastructure.

Kaiko finds itself in an enviable position: that of a neutral infrastructure provider capable of serving both native crypto exchanges and the institutional trading desks of major banks. Its data model — blockchain and asset agnostic — allows it to adapt to the rapidly evolving digital asset landscape, whether that involves Bitcoin, Ethereum, or tokens representing real-world assets.

For market observers, this funding round confirms a deeper underlying trend: the race for institutional crypto data has officially begun, and those positioning themselves today are laying the foundations for the financial markets of the next decade.