Bloomberg Expands Data to $25B Tokenized Market via Kaiko

What to Know

$25 billion — Bloomberg and Kaiko are bringing licensed financial data directly onto blockchain networks serving the tokenized asset sector
The partnership focuses on tokenized US Treasurys and repo markets running on the Canton Network, a permissioned institutional blockchain
Kaiko CEO Ambre Soubiran said the collaboration will extend traditional market data to support next-generation tokenized securities infrastructure
Critics warn the tokenized RWA market may be half the size reported by major industry aggregators

Bloomberg is teaming up with digital asset data provider Kaiko to embed licensed financial data directly within blockchain environments that power the $25 billion tokenized asset market. Announced on Thursday, the partnership targets institutional participants in tokenized US Treasurys and repo markets, aiming to resolve data inconsistencies that have plagued onchain financial instruments.

What Problem Does Onchain Financial Data Solve?

Inconsistent data across tokenized markets creates real operational risk for institutions. Today, companies within tokenized asset ecosystems frequently rely on different versions of pricing data, according to a joint statement from the two firms. This disparity heightens the chance of reconciliation disputes when counterparties trade the same instruments using conflicting datasets.

By embedding a single licensed data source onchain, Bloomberg and Kaiko aim to create a common reference layer. The initial deployment centers on tokenized US Treasurys and repo markets on the Canton Network, a permissioned blockchain for institutional financial applications. Kaiko launched its data on-ramp service on Canton in August, establishing the technical foundation for this integration. The collaboration targets banks, asset managers, and regulated financial institutions rather than retail crypto traders.

Kaiko CEO Highlights Infrastructure Gap

Kaiko CEO Ambre Soubiran emphasized that institutional-grade data remains a prerequisite for well-functioning financial markets. Soubiran said the Bloomberg collaboration will extend market data used in traditional markets to support the next generation of tokenized securities infrastructure.

Paris-based Kaiko has been steadily expanding its footprint in the digital asset data sector. The company completed its 2024 acquisition of Vinter, a European crypto index provider, strengthening its presence in regulated benchmark and index services across Europe.

This collaboration with Bloomberg will extend the availability of market data used in traditional markets to now support the next generation of tokenized securities infrastructure.
— Ambre Soubiran, CEO of Kaiko

Questions Persist Over RWA Market Size

The Bloomberg-Kaiko partnership arrives amid ongoing debate about the true scale of the tokenized real-world asset sector. Chris Yin, co-founder of RWA platform Plume, previously told reporters that the tokenized asset market may be significantly smaller than widely cited figures suggest. Yin estimated the sector's actual size was likely closer to half of what major data aggregators were reporting.

Reliable data has been a persistent priority across the digital asset industry, where participants depend on price feeds, onchain analytics, and sentiment indicators to boost transparency. In tokenized markets tied to real-world assets like Treasurys, consistent pricing data helps ensure that onchain instruments accurately mirror underlying financial instruments.

What This Means Going Forward

Bloomberg's move to place data onchain signals growing institutional confidence in tokenized financial infrastructure. As the $25 billion tokenized market attracts banks and asset managers, standardized licensed data could become a critical differentiator for competing blockchain networks. The Canton Network stands to benefit immediately, though rival permissioned chains will likely seek similar integrations as tokenized Treasurys and repo markets expand in 2026.