Bloomberg extends financial data to $25B tokenized markets via Kaiko

Bloomberg is collaborating with Kaiko, a Paris-based digital asset market data provider, to make Bloomberg’s licensed financial data accessible directly within blockchain environments rather than through traditional offchain databases.

The companies said Thursday that the initiative is designed to address the challenge of inconsistent data across tokenized markets. 

In many tokenized asset ecosystems, companies may rely on different versions of pricing data, security identifiers or reference information, increasing the risk of discrepancies and operational inefficiencies.

By enabling a common, licensed data source to be embedded onchain, the collaboration aims to ensure that market participants reference the same dataset, potentially reducing reconciliation disputes and improving data integrity.

The first use case focuses on tokenized US Treasurys and repo markets operating on the Canton Network, a permissioned blockchain network designed for institutional financial applications. Kaiko launched that data on-ramp service in August.

The integration targets banks, asset managers and other regulated financial institutions experimenting with blockchain-based versions of traditional financial instruments, rather than retail crypto traders.

Questions around data reliability and market size in tokenized real-world assets (RWAs) have surfaced before.

In May, Cointelegraph interviewed Chris Yin, co-founder of RWA platform Plume, who said that the tokenized asset market may be significantly smaller than figures cited by some industry aggregators. At the time, Yin said the sector’s actual size was likely closer to half of what major data sources were reporting.

According to at least one estimate, the current size of the tokenized RWA market excluding stablecoins is about $25 billion. Source: RWA.xyz

Related: Hong Kong to link new digital bond platform with regional tokenization hubs

Why data integrity matters for tokenized markets

Kaiko CEO Ambre Soubiran said institutional-grade data is essential for well-functioning financial markets, stating that the collaboration with Bloomberg “will extend the availability of market data used in traditional markets to now support the next generation of tokenized securities infrastructure.”

Kaiko expanded its footprint in the digital asset data sector with its 2024 acquisition of European crypto index provider Vinter, strengthening its presence in regulated benchmark and index services across Europe.

Reliable data has long been a priority in the digital asset industry, where market participants have relied not only on price feeds but also on onchain analytics and sentiment indicators to improve transparency. 

In tokenized markets, particularly those linked to real-world assets like Treasurys, consistent pricing data and reference information help ensure that onchain assets accurately mirror the underlying financial instruments.

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