Kaiko

Institutional crypto market data and regulated indices and S&P Global backing

Analytics tool Founded 2014 France Oct 20

Visit kaiko.com

4.1/ 5

Our score

Very good

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Tool type Market dataResearch

API access Yes

What is Kaiko?

Kaiko is a digital asset market data and analytics provider that supplies tick-level feeds, regulated benchmarks, valuation rates, and research. Built for institutional trading desks, asset managers, and regulators, the platform aggregates centralized and decentralized exchange order books and trade feeds into standardized historical datasets and real-time streaming APIs.

Corporate background and governance

Founded in France in 2014, Kaiko is led by Chief Executive Officer Ambre Soubiran. In September 2026, S&P Global led a strategic investment round that extended Kaiko's Series B funding to $110M. The platform is SOC-2 Type II certified and complies with the IOSCO Principles for Financial Benchmarks, serving over 200 enterprise clients across banking and market surveillance.

Data architecture and core services

Kaiko operates a four-stage data pipeline covering read, compute, store, and distribute phases. It ingests raw Level 1 and Level 2 order books, tick trades, and liquidity data directly from centralized spot and derivatives venues, as well as onchain lending protocols and decentralized exchanges. Delivery takes place via REST and WebSocket APIs, cloud data warehouses, or financial terminals like the Bloomberg Terminal under the wire code KKO. Product lines include custom index calculation services, Fair Market Value pricing for custodian reporting, and centralized oracle feeds delivering offchain and onchain benchmark rates.

Product milestones and industry deployment

The company expanded into tokenized capital markets and private market reference rates in 2026. In October 2026, S&P Dow Jones Indices and Kaiko enabled an onchain OTC swap referencing a tokenized benchmark on Derivnex, with execution handled by DRW and Marex. That same month, Kaiko introduced reference rates for secondary private assets, calculating the daily rate for a 21shares pre-IPO exchange-traded product on Anthropic. Kaiko also participates in institutional working groups including the Canton Foundation's Collateral Sub-Committee and the DTCC Digital Assets Solutions Industry Working Group.

Risk factors and constraints

Kaiko does not provide public self-serve retail subscriptions or a free tier for everyday individual traders. Its data architecture remains geared specifically toward enterprise setups, institutional integration, and professional surveillance workflows.

Best for:Institutional trading desksAsset managers issuing crypto ETPsCustodians needing regulated asset valuationsRegulatory agencies monitoring market abuse

Pros and cons

Pros

SOC-2 Type II certified and its benchmarks administered in line with IOSCO Principles
S&P Global led a $110M Series B extension
Serves over 200 enterprise clients
Coverage spans market data across centralized and decentralized venues

Cons

Institutional pricing requires custom enterprise sales onboarding
No dedicated native mobile tracking application for retail portfolios

Our review

4.1/5

Very good

Kaiko delivers institutional-grade market data feeds, reference rates, and regulatory compliance tooling, but its enterprise-focused pricing and lack of self-serve retail tiers make it unsuitable for individual traders.

Data quality5.0

Features4.5

Pricing2.0

Ease of use4.0

Coverage4.5

Founded in 2014 in Paris and led by Chief Executive Officer Ambre Soubiran, Kaiko operates as an institutional-grade digital asset market data and analytics provider. The company serves over 200 enterprise clients, including financial institutions, asset managers, and regulators. In September 2026, S&P Global led a Series B extension that brought Kaiko's total funding to $110 million.

Kaiko focuses on data depth and regulatory readiness across centralized and decentralized finance. Its architecture spans Level 1 and Level 2 order books, tick-level trade data, and derivatives pricing across major venues. The platform administers indices compliant with the IOSCO Principles for Financial Benchmarks and maintains a SOC-2 Type II certification. In October 2026, its reference rates were integrated into regulated investment products, including a 21shares pre-IPO ETP on Anthropic, as well as tokenized benchmark swaps executed via Derivnex.

The service has clear limitations for general market participants:

Delivery includes REST APIs and WebSocket feeds for institutional data use cases.
Tooling includes pricing, reference benchmarks, analytics, and monitoring solutions.

Kaiko suits institutional trading desks and compliance officers who require verifiable, auditable trade feeds.

Listings are researched and drafted with AI assistance from public sources, then checked for accuracy and readability. Spot an error? Tell us. Editorial policy.

Sources (1)

The crypto industry's leading data, analytics, and indices provider. - Kaiko

Specs

Tool type	Market data, Research
API access	Yes
Wallet tracking	No · unverified

Not disclosed by the provider: Free plan, Paid plans from (per month), Chains covered, Alerts, Mobile app, NFT data, CSV export.

Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.

Key features

Level 1 and Level 2 market feeds

Streams tick-by-tick trades, order book depth, and liquidity data across centralized and decentralized spot and derivatives markets.

Regulated crypto benchmarks and indices

Administered in alignment with IOSCO principles to power regulated exchange-traded products, derivatives, and pre-IPO reference rates.

Fair market value pricing

Provides auditable mark-to-market pricing models designed for custodian reporting, asset managers, and MiCA or Basel regulatory requirements.

Market surveillance tools

Delivers cross-market surveillance, trade anomaly detection, and AML transaction monitoring data for exchanges and regulatory agencies.

Centralized oracle feeds

Delivers institutional-grade financial benchmarks and market data feeds directly to onchain networks and tokenized market workflows.

Research and terminal distribution

Publishes weekly market snapshots, deep-dive industry research, and terminal reports accessible under the Bloomberg wire code KKO.

Inside Kaiko

Data Feeds

Delivers Level 1 and Level 2 tick trades, historical tick-level quotes, and order book snapshots across centralized and decentralized venues.

Analytics Solutions

Provides proprietary quantitative tools for risk analysis, fair market value marking, risk analysis, fair market value pricing, and derivatives risk indicators.

Monitoring Solutions

Supplies market surveillance dashboards, trade forensics, and AML/CFT compliance verification tools.

Kaiko Indices

Acts as an independent benchmark administrator and calculation agent for financial products, including ETFs, derivatives, and pre-IPO reference rates.

Kaiko Data Services

Operates centralized oracle infrastructure that brings auditable financial market data and tokenized benchmarks onchain.

Kaiko screenshots

Kaiko’s homepage presents crypto data, analytics, indices, and infrastructure services · Oct 20, 2026

Docs: Kaiko’s documentation hub displays developer information, data sections, navigation, and documentation links · Oct 20, 2026

What users say about Kaiko

User feedback directly evaluating Kaiko is currently insufficient to determine overall sentiment or identify key themes. Available commentary only cites its spot exchange rankings rather than direct product usage.

Based on 1 Reddit posts and comments from the last 12 months, checked Oct 20, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.

User reviews

No user reviews yet. Have you used Kaiko? Share your experience below.

Funding and investors

$110MTotal raised

1Round

1Investor

Series B Extension Sep 2026 $110M

SG S&P GlobalVenture capital Lead
Source

FAQ

Who founded and runs Kaiko?

Kaiko was founded in 2014 in Paris and is led by Chief Executive Officer Ambre Soubiran.

How much does Kaiko cost?

Kaiko does not offer fixed retail pricing or a public self-serve subscription plan. Pricing is not listed as a fixed retail subscription.

What security and compliance certifications does Kaiko hold?

Kaiko maintains a SOC-2 Type II certification and administers its benchmark indices in compliance with the IOSCO Principles.

What data distribution methods does Kaiko provide?

Kaiko delivers market data through REST APIs, real-time WebSocket feeds, cloud data warehouses, and centralized oracle services.

Latest from Kaiko on X

Kaiko

@kaikodata · 23.2K followers

Oct 29, 2026

On April 13, 2027, The Agora, Kaiko's institutional forum where digital finance meets open thinking moves to the Palais des Festivals. TradFi and DeFi executives will share the stage for a full day of panels and keynotes.

The inaugural edition of The Agora last spring brought together 800+ attendees and 60+ speakers, with more than 40% of those in attendance being C-level.

The Agora 2027 edition will cover:

➡️ 24/7 Markets and Infrastructure
➡️ Onchain Collateral Mobility and Utility
➡️ Onchain Asset Distribution and Liquidity Challenges
➡️ Delivering Disintermediation Through Decentralized vs. Distributed Systems

Join the guestlist today 🔗 https://t.co/1cqmu1A0nO

0 0 2 1.1K View on X

Oct 28, 2026

Kaiko now contributes to multiple working groups, task forces & initiatives defining how tokenized collateral will work in practice. Alongside the standards work, Kaiko Data OnRamp brings reference prices onchain where tokenized collateral sits, including business data on @CantonNetwork & a live deployment on @StellarOrg .

Learn more 🔗 https://t.co/34dFrdNd8M

1 2 7 1.1K View on X

Oct 28, 2026

Transparency and accountability are essential to the future of onchain finance.

As Kaiko CEO @ambresoub explains: “Onchain finance will develop alongside existing capital markets, not separately from them. The infrastructure supporting it must meet the same standards.”

With regulatory coverage across data and blockchain frameworks and SOC 1 and SOC 2 Type 2 attestations, Kaiko is building trusted data infrastructure for tokenized assets.

Watch the full interview here 🔗 https://t.co/sEh7mbsac2

2 0 7 1.3K View on X

Oct 27, 2026

Liquidity has followed stablecoin trading toward USDC in Europe.

USDC/EUR order books are now roughly 40% deeper than USDT/EUR, with $27.3M sitting within 1% of the mid-price versus $19.3M for USDT.

USDC is now not only the more traded euro stablecoin market, but also the easier one to trade in size.

6 0 17 3.6K View on X

Oct 26, 2026

Pre-IPO perps continue to draw traders ahead of major listings. Within an hour of Anthropic publishing its S-1 today, trailing 24h volume on its pre-IPO perps jumped 159%.

@binance led the move, with trailing 24h volume up 233% to $35.2M since 12:00 UTC and open interest up 6.8%.