S&P Global Leads Kaiko Funding Extension to $110 Million

The significance here is less the amount than the backer: a major index and ratings incumbent anchoring a crypto data vendor signals that tokenized-market infrastructure is being treated as institutional plumbing rather than a niche. It matters most to exchanges, issuers and data competitors, since Kaiko's positioning around around-the-clock tokenized markets targets the gap between traditional market hours and continuous settlement. The open question is whether this capital converts into durable coverage across tokenized assets, or stays a data play ahead of real trading volume.