S&P Global has led a strategic investment in Paris-based digital-asset market-data provider Kaiko, extending its Series B round to $110 million and bringing its total funding since 2021 to $187 million. The financing follows Kaiko's $53 million Series B in 2022 and includes BNP Paribas, Bpifrance, Broadridge, Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar and Susquehanna Private Equity Investments, alongside existing shareholders Anthemis, Point Nine and Revaia. Kaiko will use the capital to strengthen its core market-data business and expand infrastructure for onchain capital markets, where institutions developing tokenized-asset products require continuous pricing, liquidity and reference data. The investment builds on S&P Global's existing collaboration with Kaiko on digital-asset data, indices and tokenized-market infrastructure, including the co-branded S&P Kaiko Digital Asset Indices suite. Kaiko, founded in 2014, covers more than 150 exchanges and blockchain protocols and serves more than 250 financial institutions, firms and regulators worldwide. Kaiko did not disclose a valuation for the investment.