Crypto market data provider Kaiko has brought a group of traditional finance institutions onto its cap table, with S&P Global leading a strategic extension of its Series B. The round now totals $110 million.

BNP Paribas, Nasdaq Ventures, Royal Bank of Canada, Broadridge, Bpifrance, Susquehanna Private Equity Investments, DRW Venture Capital, Coinbase Ventures, Stellar, Canton and Alura Capital joined as strategic investors. Existing shareholders Anthemis, Point Nine and Revaia also participated.

Participating institutions are joining a Kaiko-chaired industry working group focused on data infrastructure for tokenized markets. The funding backs Kaiko's core market data business, which covers over 150 exchanges and protocols, and its push to deliver data to smart contracts as tokenization expands into Treasury bills, money market funds, equities and bonds.

The raise follows Kaiko's acquisitions of Amberdata, previously its largest U.S. competitor, and MiCA-licensed DeFi infrastructure provider Cometh.