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Bloomberg and Kaiko on Feb. 26 said they have agreed to develop a way for Bloomberg’s Data License offerings to be accessed on-chain via Kaiko’s infrastructure, starting with tokenized U.S. Treasuries and repo workflows on the Canton Network. The companies described the project as an “initiative” intended to make selected Bloomberg datasets available to entitled participants within on-chain tokenized-market workflows.
In the announcement, Bloomberg said the on-chain dataset scope includes security master data and evaluated pricing, while Kaiko said its service would securely write off-chain market data on-chain with entitlement controls to restrict access to licensed users, aligning distribution with existing data-licensing frameworks. The initial deployment focus was tied to Canton, which is described in the release as a privacy-enabled, interoperable blockchain network designed for institutional finance.
Operationally, the collaboration builds on Kaiko’s “data on-ramp” product, which Kaiko says enables off-chain data providers to distribute data products on-chain while enforcing licensing and access controls; Kaiko previously said it launched the first data on-ramp service on the Canton Network in August 2025 and that it was operational on Canton Mainnet.
The development is non-trivial for RWA market infrastructure because Bloomberg’s Data License business is used to deliver large-scale reference and pricing datasets (including evaluated pricing) into enterprise workflows, and the announcement frames this initiative as extending those same licensed datasets into on-chain settings rather than relying on public, unlicensed, or ad hoc data feeds.
It also connects to existing tokenized fixed-income experimentation on Canton: Canton’s own materials describe a DTCC–Digital Asset effort to tokenize U.S. Treasuries on Canton and report that an industry group completed live 24/7 trades in July 2025 and additional on-chain repo transactions, which aligns with the Bloomberg–Kaiko statement that tokenized U.S. Treasuries and repo workflows are the initial target use cases.
For issuers, market operators, and institutional users building tokenized-asset workflows—whether for Treasuries, other RWAs, or real-estate-linked structures that depend on licensed reference and valuation inputs—the practical change described is the prospect of consuming Bloomberg-licensed data directly in on-chain processes, subject to entitlement checks rather than open access. The impact, as framed by the companies, is primarily on data distribution and permissioning—who can access which datasets and under what license terms—rather than a change to securities rules or a new regulatory program.
