TLDR
- A new collaboration between Bloomberg and Kaiko brings professional-grade market data directly onto blockchain networks
- The partnership prioritizes tokenized US Treasuries and repurchase agreements on the Canton Network platform
- The initiative tackles longstanding data consistency issues within tokenized financial markets
- Target users include institutional players such as banks and fund managers, with no retail access
- The tokenized real-world asset market currently stands at roughly $25 billion, not counting stablecoins
Bloomberg has forged a strategic alliance with Paris-headquartered digital asset data provider Kaiko to introduce licensed market data directly onto blockchain networks. The companies revealed their partnership on Thursday.
This initiative will provide essential financial information—such as price data, security reference codes, and benchmark datasets—directly within blockchain environments. Historically, such data has been confined to traditional off-chain storage systems.
The partnership tackles a persistent issue facing tokenized financial instruments. Different organizations often work with inconsistent versions of the same underlying data, leading to situations where multiple institutions assign different valuations to identical Treasury securities.
Such inconsistencies create significant reconciliation burdens and increase operational hazards. Through the establishment of a standardized, licensed data infrastructure on blockchain networks, both firms intend to provide all participants with uniform information access.
The first phase focuses on tokenized United States Treasury securities and repo markets. These operations run on Canton Network, a permissioned blockchain platform designed exclusively for institutional finance applications.
Kaiko launched its blockchain-native data service for Canton Network in August of the previous year. The new Bloomberg collaboration marks a major enhancement of those capabilities.
The service targets banks, institutional investment firms, and other licensed financial entities. Individual cryptocurrency investors are not the intended audience.
Data Reliability Has Been a Known Problem
Questions about information accuracy in tokenized real-world asset markets have persisted for quite some time. In May of last year, Chris Yin, who co-founded RWA platform Plume, argued that actual market dimensions might be considerably smaller than widely circulated figures suggested.
Yin’s analysis indicated the true market value could be roughly half of what leading data tracking services reported at that time. Current estimates place the tokenized RWA sector around $25 billion excluding stablecoins, according to figures from RWA.xyz.
Ambre Soubiran, CEO of Kaiko, stressed that institutional-grade data systems are essential for healthy market operations. She highlighted that the Bloomberg partnership brings proven market data infrastructure to blockchain-based financial instruments.
Kaiko’s Expanding Role in Digital Asset Data
Kaiko has been steadily broadening its digital asset data product portfolio. During 2024, the firm completed its purchase of Vinter, a European cryptocurrency index provider.
That acquisition strengthened Kaiko’s position in delivering regulated benchmarks and indices across European territories. The Bloomberg partnership represents another strategic step in this growth trajectory.
For tokenized markets, standardized pricing data serves an essential operational purpose. Numerous tokenized products represent actual financial instruments like Treasury bonds, requiring precise data to ensure on-chain versions accurately mirror their underlying assets.
The Canton Network, which hosts this data service, was purpose-built for institutional financial applications. Being a permissioned network, participation is restricted rather than open to the public.
This collaboration reflects broader movement among established financial data providers to build presence in blockchain-native systems. Bloomberg’s licensed data products enjoy extensive adoption across international financial markets.
