TLDR
- Bloomberg has partnered with Kaiko to deploy licensed financial market data directly on blockchain infrastructure
- Initial deployment focuses on tokenized US Treasury bonds and repurchase agreement markets via Canton Network
- The initiative addresses data fragmentation and inconsistency challenges across tokenized asset ecosystems
- Primary audience includes institutional players like banks and asset management firms, not individual crypto investors
- Real-world asset tokenization market stands at approximately $25 billion when stablecoins are excluded
Bloomberg has teamed up with Kaiko, a digital asset data provider headquartered in Paris, to integrate licensed financial market data directly into blockchain infrastructure. The companies made the partnership public on Thursday.
The initiative aims to deliver pricing data, security identification codes, and reference information within blockchain ecosystems. Traditionally, this information has been stored in conventional, off-chain database systems.
The collaboration addresses a pressing challenge in tokenized financial markets. Various institutions frequently rely on disparate data versions, resulting in scenarios where one financial institution may value a Treasury security differently than its counterpart.
These discrepancies generate additional reconciliation overhead and elevate operational risk. By establishing a unified, licensed data source on blockchain infrastructure, both organizations believe market participants can access identical information sets.
The initial implementation centers on tokenized United States Treasury securities and repurchase agreement markets. These markets function on Canton Network, a permissioned blockchain infrastructure purpose-built for institutional financial applications.
Kaiko introduced its blockchain data integration service for Canton Network last August. The current partnership with Bloomberg represents an expansion of that capability.
The offering targets banks, institutional asset managers, and other regulated financial entities. It was not created with retail cryptocurrency market participants in mind.
Data Quality Concerns Have Persisted
Concerns surrounding data precision in tokenized real-world asset markets have existed for some time. Last May, Chris Yin, who co-founded RWA platform Plume, suggested the market might be significantly smaller than published estimates indicated.
Yin’s assessment placed the actual market size at roughly half the figures major data aggregators were reporting during that period. Contemporary estimates value the tokenized RWA sector at approximately $25 billion, with stablecoins excluded from that calculation, based on data from RWA.xyz.
Ambre Soubiran, CEO of Kaiko, emphasized that institutional-quality data is fundamental to proper market function. She noted that the Bloomberg agreement extends conventional market data infrastructure to accommodate tokenized securities.
Kaiko’s Growing Footprint in Digital Asset Information
Kaiko has been expanding its presence within digital asset data services. During 2024, the company acquired Vinter, a European cryptocurrency index provider.
That acquisition bolstered Kaiko’s capabilities in regulated benchmark and index offerings throughout Europe. The Bloomberg collaboration represents another strategic layer to that approach.
In tokenized asset markets, reliable pricing information serves a critical operational purpose. Many tokenized instruments represent tangible financial products such as Treasury securities, and precise data helps ensure the blockchain-based version accurately reflects the underlying instrument.
Canton Network, where this data service is being implemented, was specifically engineered for institutional financial use cases. As a permissioned network, access is restricted and managed rather than publicly available.
The partnership signals broader initiatives by established financial data providers to enter blockchain-based infrastructure. Bloomberg’s licensed data feeds are extensively utilized throughout international financial markets.
