TLDR
- Kaiko and Bloomberg are deploying licensed financial data infrastructure directly on blockchain platforms for institutional clients
- Initial implementation focuses on tokenized US Treasury bonds and repo markets via Canton Network
- Partnership addresses persistent data fragmentation issues affecting tokenized asset markets
- Designed exclusively for institutional players like banks and asset managers, not retail participants
- The tokenized real-world asset sector stands at approximately $25 billion when stablecoins are excluded
Kaiko, a digital asset data provider based in Paris, has joined forces with Bloomberg to deploy licensed financial data infrastructure directly within blockchain environments. The companies made the partnership public on Thursday.
The collaboration seeks to deliver pricing feeds, security identification codes, and reference information natively within blockchain systems. Traditionally, this type of data has resided in conventional, off-chain database structures.
The alliance addresses a particular challenge facing tokenized markets. Financial institutions frequently work with divergent versions of identical data points, leading to scenarios where one institution values a Treasury instrument differently from its counterpart.
Such discrepancies generate reconciliation burdens and heighten operational risk. Through deploying a unified, licensed data feed on-chain, the partners believe market participants can access identical information sets.
The initial deployment centers on tokenized US Treasury instruments and repo operations. These markets function on Canton Network, a permissioned blockchain infrastructure developed for institutional finance.
Kaiko introduced its blockchain data integration platform for Canton Network last August. The Bloomberg partnership represents a significant expansion of that capability.
The solution targets banks, investment managers, and licensed financial entities. Retail cryptocurrency traders are not the intended audience.
Data Quality Issues Have Persisted in Tokenized Markets
Concerns regarding data precision in tokenized real-world asset sectors have existed for some time. Last May, Chris Yin, who co-founded RWA platform Plume, suggested the market’s actual size might be substantially smaller than published estimates indicated.
Yin’s analysis pointed to a market roughly half the size of what leading data aggregators were reporting then. Today’s estimates value the tokenized RWA sector at around $25 billion when stablecoins are removed from calculations, based on data from RWA.xyz.
Ambre Soubiran, CEO of Kaiko, emphasized that institutional-quality data infrastructure is fundamental to proper market functioning. She noted the Bloomberg collaboration extends proven market data systems to support blockchain-based securities.
Kaiko’s Growing Footprint in Digital Asset Information Services
Kaiko has systematically expanded its digital asset data capabilities. During 2024, the company completed an acquisition of Vinter, a European provider of cryptocurrency indices.
That transaction bolstered Kaiko’s position within regulated benchmark and indexing sectors throughout Europe. The Bloomberg alliance represents another strategic advancement in that direction.
For tokenized markets, reliable pricing information fulfills a critical operational need. Many tokenized instruments represent traditional assets like Treasury bonds, making accurate data essential to ensuring the blockchain version properly reflects the underlying security.
Canton Network, the platform hosting this data service, was purpose-built for institutional financial operations. Unlike public blockchains, it operates as a permissioned system with controlled access.
The partnership illustrates wider industry momentum as established financial data vendors expand into blockchain-based infrastructure. Bloomberg’s licensed data feeds are standard infrastructure across international financial markets.
