Kaiko

Kaiko is an institutional-grade cryptocurrency market data company headquartered in Paris, with offices in New York, London, and Singapore. Founded in 2014, the firm has spent over a decade building the data infrastructure that banks, asset managers, hedge funds, regulators, and crypto-native enterprises rely on to operate in digital asset markets. Its tagline—"trusted information from all markets, on all networks"—reflects a deliberate positioning: independent, compliant, and covering both centralized finance and the rapidly expanding on-chain world.

What Kaiko Does

At its core, Kaiko aggregates and distributes financial data across the full spectrum of digital asset markets. That means trade-level tick data and full order book snapshots from centralized exchanges, DeFi protocols and decentralized exchanges, lending markets, and blockchain networks—all normalized into a single, consistent format for institutional consumption.

The product suite organizes around four pillars:

Data Feeds cover reference data (asset identifiers, supply metrics, derivative specifications), Level 1 market data (last-price, bid-ask, OHLCV), and Level 2 order book data for both CeFi and DeFi ecosystems. Historical data reaches back to 2010 for some venues, accessible through REST APIs, real-time streams with 72-hour replay capability, CSV exports, and cloud platforms including Snowflake, BigQuery, AWS, Azure, and GCP.

Analytics Solutions translate raw data into decision-ready intelligence. Products here include Best Execution benchmarks for transaction cost analysis, Fair Market Value pricing for portfolio marking, Portfolio and Risk Management tools, and Derivatives Risk Indicators with volatility forecasting. These tools serve front-office and mid-office functions at financial institutions entering or expanding in crypto.

Monitoring Solutions address compliance and market integrity. The Market Surveyor product detects potential market manipulation. Market Explorer provides a global market assessment interface via API. Blockchain Monitoring covers on-chain AML and CFT compliance across supported networks—Bitcoin, Ethereum, and Solana among them—tracking native coin transfers, token transfers, staking deposits and withdrawals, and network fees.

Kaiko Indices is the firm's benchmark business, delivering EU BMR-compliant reference rates, multi-asset indices, and calculation agent services for NAV computation. Exchange rankings, crypto asset rankings, and blockchain ecosystem rankings round out the offering. Kaiko Indices serves ETF issuers, derivatives exchanges, and fund managers that need auditable, regulated pricing for product construction and reporting.

Solana Coverage

For participants in the Solana ecosystem, Kaiko's footprint spans both CeFi and on-chain markets. On the centralized side, SOL and Solana-based tokens appear across the exchange coverage that feeds Kaiko's trade data and order book products. On the decentralized side, Kaiko's DeFi data products cover Solana's DEX activity, including tick-level trade data, liquidity pool metrics, and bid-ask spreads from decentralized venues.

Blockchain Monitoring extends to Solana directly: the product tracks all native SOL transfers, SPL token movements, staking deposits and withdrawals, and transaction fees on-chain. Standard packages include a 30-day rolling history for Solana, with broader lookback available for compliance and research use cases. Kaiko has also highlighted Solana's stablecoin market growth through its Market Explorer analytics, positioning the network as an area of active institutional interest.

Company Milestones and Funding

Kaiko has raised approximately 82.5 million dollars across multiple rounds. The most significant was a 53 million dollar Series B in June 2022, led by Eight Roads, which funded global expansion and product development. CEO Ambre Soubiran, who brings 20 years of finance experience, has overseen the company's transformation from a public data aggregator into a regulated global provider.

The firm has pursued growth through acquisition as well as organic expansion. As of mid-2026, Kaiko has completed five acquisitions. The most consequential is its June 2026 purchase of Amberdata, described by both companies as a landmark consolidation in the digital asset data sector. Amberdata, founded in 2017 and backed by Coinbase Ventures and Chicago Trading Company among others, had built a strong position in derivatives analytics, on-chain data, and AI-powered market intelligence, with particular depth in North American institutional markets. Kaiko also acquired Cometh, an on-chain infrastructure specialist, in the weeks immediately prior to the Amberdata deal.

The combined entity following the Amberdata acquisition serves over 260 institutional clients globally, covers more than 200 exchanges, 20-plus blockchains, and 20,000-plus digital assets, with operations across three continents running 24 hours a day.

Regulatory Standing and Infrastructure

Kaiko holds SOC-2 Type II certification and is compliant with the EU Benchmark Regulation (BMR), which governs the production and use of financial benchmarks in Europe. These credentials matter for regulated institutions—banks, custodians, ETF issuers—that can only onboard data vendors meeting specific compliance thresholds.

The firm's proprietary data pipeline runs through a four-stage process it calls Read, Compute, Store, and Distribute. This architecture is designed for the reliability and latency standards institutional clients require, particularly for real-time risk management and execution use cases.

Notable institutional partnerships include CBOE, for which Kaiko provides reference rates underpinning Bitcoin and Ether continuous futures; One Trading, for equity futures reference rates; and the Frankfurt School's Centre for Digital Economics for research collaboration.

Position in the Market

Kaiko occupies the independent, regulated tier of the crypto data market—alongside a handful of firms that serve institutional buyers who cannot or will not rely on exchange-proprietary data for compliance-sensitive functions. The company's decade-plus history, regulatory certifications, and breadth of coverage across CeFi, DeFi, derivatives, and on-chain activity have established it as a reference data vendor for institutions building infrastructure across the digital asset lifecycle.

With the Amberdata acquisition closing in 2026, Kaiko has moved to consolidate that position by bringing together what it describes as the two strongest independent data companies in the space. The combined entity's coverage of Solana—spanning market data, DEX liquidity, on-chain monitoring, and staking analytics—makes it a relevant infrastructure layer for institutional capital engaging with the Solana network.