Bloomberg Partners with Kaiko to Deliver Licensed Financial Data On-Chain

TLDR

• Bloomberg and Kaiko have partnered to deliver institutional-grade financial data natively on blockchain infrastructure
• The initial focus centers on tokenized US Treasury bonds and repo markets operating on Canton Network
• This collaboration addresses critical data standardization challenges plaguing tokenized asset ecosystems
• The service caters exclusively to institutional clients including banks and asset managers, not retail participants
• Current valuations place the tokenized real-world asset sector at approximately $25 billion, excluding stablecoins

Bloomberg has entered into a strategic partnership with Kaiko, a digital asset data specialist based in Paris, to deploy licensed financial data natively within blockchain infrastructures. The firms made the announcement public on Thursday.

The initiative seeks to deliver critical market information—including pricing feeds, security identifiers, and reference datasets—directly within blockchain ecosystems. Traditionally, this information has resided exclusively in conventional, off-chain database systems.

The collaboration specifically addresses a persistent challenge within tokenized financial markets. Various institutions frequently rely on disparate versions of identical datasets, resulting in scenarios where one financial entity might value a Treasury instrument differently from another.

These discrepancies generate substantial reconciliation overhead and elevate operational risk exposure. By establishing a unified, licensed data layer on-chain, the companies aim to ensure all market participants access identical information.

The inaugural deployment concentrates on tokenized US Treasury instruments and repurchase agreement markets. These markets function on the Canton Network, a permissioned distributed ledger infrastructure purpose-built for institutional financial operations.

Kaiko introduced its blockchain data integration service for Canton Network last August. The current Bloomberg partnership represents a significant expansion of that capability.

The offering specifically serves banks, institutional asset managers, and other regulated financial market participants. Retail cryptocurrency traders fall outside the intended user base.

Data Reliability Has Been a Known Problem

Concerns regarding data quality within tokenized real-world asset markets have existed for some time. Last May, Chris Yin, co-founder of RWA platform Plume, suggested the market’s actual size might be substantially smaller than published estimates indicated.

Yin’s assessment placed the genuine market size at approximately half the figures reported by prominent data aggregators during that period. Present estimates value the tokenized RWA sector at around $25 billion when stablecoins are excluded, based on data from RWA.xyz.

Kaiko’s CEO Ambre Soubiran emphasized that institutional-quality data infrastructure remains fundamental to proper market functioning. She noted the Bloomberg collaboration extends established market data systems to support blockchain-based securities.

Kaiko’s Expanding Role in Digital Asset Data

Kaiko has systematically expanded its digital asset data service offerings. Throughout 2024, the company completed an acquisition of Vinter, a European provider of cryptocurrency indices.

That transaction bolstered Kaiko’s capabilities in regulated benchmark and index provision throughout European markets. The Bloomberg alliance represents another strategic advancement in that direction.

Within tokenized markets, standardized pricing information fulfills a critical operational function. Many tokenized instruments represent tangible financial products such as Treasury bonds, making accurate data essential for ensuring on-chain representations properly reflect underlying assets.

The Canton Network, serving as the deployment environment for this service, was specifically architected for institutional financial use cases. As a permissioned network, access remains controlled rather than publicly available.

This partnership exemplifies broader trends among traditional financial data vendors seeking to establish presence within blockchain-native infrastructure. Bloomberg’s licensed datasets maintain widespread adoption throughout global financial markets.

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