Summary
- Bloomberg reported that it plans to partner with crypto data firm Kaiko to enable its licensed financial data to be used directly in blockchain environments.
- With the collaboration, Bloomberg’s financial data will become accessible on-chain without going through existing off-chain databases, a move seen as ensuring data consistency for institutional tokenized financial products such as tokenized Treasuries and the repo market.
- The outlet explained that providing standardized financial data on-chain could become key infrastructure for expanding institutional participation to address inefficiencies in today’s tokenized-asset ecosystem, and that this is an example of a traditional financial data provider directly linking infrastructure to the tokenized-asset market.
Forecast Trend Report by Period
According to crypto-focused media outlet Cointelegraph on the 26th (local time), Bloomberg will partner with crypto data firm Kaiko to enable its licensed financial data to be used directly in blockchain environments.
Through the collaboration, Bloomberg’s financial data is expected to become accessible on-chain without going through existing off-chain databases. This is seen as a move to ensure data consistency for institutional tokenized financial products such as tokenized Treasuries and the repo market.
The outlet said, “In the current tokenized-asset ecosystem, price data, securities identifiers and reference information are being used inconsistently, creating operational inefficiencies,” adding that “making standardized financial data available on-chain could become a key piece of infrastructure for expanding institutional participation.”
The move is being viewed as an example of a traditional financial data provider directly linking its infrastructure to the tokenized-asset market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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