# Wall Street Bets Big on Tokenization with $110M Kaiko Investment S&P Global leads funding round as institutions build infrastructure for 24/7 onchain markets. - **Source:** [Bitcoin News](https://brifing.si/source/d8aeaf1e-9839-4dad-9d25-7a6bf3fbeef8) - **Published:** 2026-09-14 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/e3372d67-4cef-47a6-8d71-5678cc5a7661 ## Major Financial Players Back Kaiko S&P Global led a $110M Series B extension for crypto data provider Kaiko, joined by Nasdaq, BNP Paribas, Royal Bank of Canada, and Coinbase Ventures. This heavyweight consortium spans traditional finance and crypto-native firms, signaling broad institutional commitment to onchain infrastructure. The participation of market makers like DRW and Susquehanna further validates Kaiko's role in bridging both worlds. ## Beyond Custody: The Next Phase The investment marks a shift from basic crypto custody solutions to sophisticated market infrastructure. Institutions now demand 24/7 pricing, compliance-ready data feeds, and risk analytics for tokenized assets. Kaiko's acquisition of DeFi provider Cometh and rival Amberdata positions it to meet these needs across both centralized and decentralized markets. ## Data Standardization Challenge Kaiko is forming a Strategic Industry Working Group to establish data standards for tokenized markets. With $684M in tokenized equities on Solana alone, the lack of unified valuation frameworks creates operational risks. Participants aim to develop benchmarks comparable to traditional financial indices maintained by S&P Dow Jones. ## Institutional-Grade Oracles Kaiko's infrastructure converts raw blockchain data into standardized formats for institutional use. Their smart contract feeds enable real-time valuation of tokenized Treasuries, money-market funds, and corporate bonds. This addresses a critical gap as 78% of asset managers cite data fragmentation as a barrier to blockchain adoption. ## The Transparency Imperative S&P Dow Jones Indices CEO Cathy Clay emphasized Kaiko's role in bringing 'foundational transparency' to digital assets. Unlike retail crypto trading, institutional activity requires audit trails matching SEC/FCA standards. Kaiko's coverage of 150+ exchanges provides the breadth needed for compliance reporting. ## Follow-the-Money Signal The participation of BNP Paribas—Europe's largest custodian—and Broadridge (processing $10T+ in securities annually) suggests imminent production deployments. These firms typically invest only when solutions meet strict operational readiness thresholds, indicating advanced testing phases. ## Market Infrastructure Arms Race Kaiko competes with Bloomberg's new onchain data initiatives, reflecting broader competition to become the Bloomberg Terminal of crypto. Unlike retail-focused price trackers, these systems must handle complex corporate actions, dividend flows, and tax reporting—requirements now emerging with tokenized RWAs. ## The Tipping Point Thesis This round validates that tokenization is transitioning from proof-of-concepts to live implementations. When firms representing $50T+ in market capitalization collectively fund the data layer, it suggests they anticipate material trading volumes within 12-18 months. The infrastructure buildout resembles early electronic trading adoption in the 1990s. ## Sources covering this story - https://news.bitcoin.com/finance/sp-global-leads-110m-kaiko-round-as-wall-street-goes-onchain/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._