Bloomberg and Kaiko announced a joint initiative to develop a pathway for Bloomberg's trusted Data License offerings to be accessed on-chain via Kaiko's infrastructure. The work is intended to focus initially on support for tokenized U.S. Treasuries and repo workflows on the Canton Network, the privacy-enabled, interoperable blockchain network designed for institutional finance.

By seeking to provide access to high-quality reference data directly on-chain, the collaboration aims to address a persistent challenge in existing workflows. Disputes arise from inconsistent data sources, timing mismatches, and fragmented pipelines, creating operational friction and increasing reconciliation costs. By using tokenized workflows with Bloomberg data available on-chain, counterparties will be able to reference a single, verifiable source, eliminating ambiguity and enabling automation.

This collaboration will utilize Kaiko's data on-ramp service, launched on the Canton Network in August 2025, to securely write off-chain market data on-chain while maintaining IP ownership, licensing compliance, and auditability. Entitlement controls are designed to ensure only licensed participants can access Bloomberg data, consistent with traditional data licensing frameworks.

"Institutional clients increasingly expect the same trusted Bloomberg data they utilize in traditional markets to be available on-chain," said Emilie Gallagher, Global Head of Commodities and FX at Bloomberg. "This collaboration reflects our commitment to meeting clients where they operate, as we work towards extending our Data License offerings into new environments while maintaining the same standards of quality, governance, and entitlement."

Through Kaiko's secure data on-ramp infrastructure, Bloomberg Data License offerings, including security master data and evaluated pricing, will be accessible on-chain by entitled participants. This will allow counterparties to reference a single, verifiable source, reducing reconciliation risk and supporting more on-chain workflows as markets evolve and clients adapt to new technologies.

While the initial phase focuses on supporting tokenized U.S. Treasuries and repo workflows, the initiative is designed to expand to additional asset classes, use cases and communities based on client demand and market evolution.

Bloomberg has a long history of delivering institutional-quality reference data, supporting risk management, valuation, and regulatory needs across global capital markets. Working to bring the data on-chain reflects Bloomberg's broader approach to serving clients across both traditional and next-generation financial systems, working with industry leaders while maintaining enterprise standards for entitlement, compliance and infrastructure neutrality.