TLDR
- Bloomberg and Kaiko have announced a partnership to deliver licensed financial data directly within blockchain environments for institutional clients
- Their initial focus addresses tokenized US Treasury bonds and repo markets operating on the Canton Network
- This initiative addresses critical data inconsistency challenges plaguing tokenized asset markets
- The service is designed for institutional players like banks and asset managers, not everyday cryptocurrency users
- The tokenized real-world asset sector (not including stablecoins) stands at approximately $25 billion
A new collaboration between Bloomberg and Kaiko, a digital asset data firm headquartered in Paris, will deliver licensed financial data directly within blockchain networks. The companies made the announcement public on Thursday.
Their objective is to provide pricing information, security identifiers, and reference data accessible within blockchain ecosystems. Currently, this information typically resides in conventional, off-chain databases.
The collaboration addresses a particular challenge facing tokenized markets. Various institutions frequently work with differing versions of identical data, which means a Treasury bond might carry different pricing at one financial institution compared to another.
This discrepancy generates reconciliation burdens and elevates error risks. By deploying a unified, licensed data source on blockchain infrastructure, both partners claim market participants can work from identical datasets.
The initial deployment concentrates on tokenized US Treasury bonds and repo market operations. These function on the Canton Network, a permissioned blockchain infrastructure developed for institutional financial applications.
Kaiko introduced its data on-ramp capability for the Canton Network last August. The integration is now undergoing expansion through this Bloomberg partnership.
The offering targets banks, asset management firms, and regulated financial institutions. It was not developed with retail cryptocurrency traders in mind.
Data Reliability Has Been a Known Problem
Concerns regarding data accuracy within tokenized real-world asset markets are well-documented. Last May, Chris Yin, co-founder of RWA platform Plume, suggested the market might be significantly smaller than published figures indicated.
Yin’s estimate placed the actual market size at roughly half of what prominent data aggregators were reporting during that period. Present estimates value the tokenized RWA market at around $25 billion when stablecoins are excluded, based on data from RWA.xyz.
Kaiko CEO Ambre Soubiran emphasized that institutional-grade data represents a fundamental requirement for market functionality. She noted the Bloomberg partnership extends conventional market data infrastructure to accommodate tokenized securities.
Kaiko’s Expanding Role in Digital Asset Data
Kaiko has been broadening its footprint within digital asset data services. During 2024, the company acquired Vinter, a European provider of crypto index services.
That acquisition bolstered Kaiko’s standing in regulated benchmark and index offerings throughout Europe. The Bloomberg collaboration adds another strategic dimension to this approach.
Within tokenized markets, consistent pricing data fulfills a critical function. Numerous tokenized assets represent real-world instruments such as Treasury bonds, and precise data helps guarantee the on-chain version accurately reflects the underlying asset.
The Canton Network, where this capability is being implemented, was built explicitly for institutional financial use cases. As a permissioned network, access is regulated rather than publicly available.
The partnership represents broader initiatives by established financial data providers to enter blockchain-based infrastructure. Bloomberg’s licensed data maintains widespread usage throughout international financial markets.
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