January 4th, 2023
A look back at 2022, our vision for the blockchain industry, and development approach for 2023.
2022 was without a doubt the industry’s toughest year yet. Amid the tumult, we took the time to thoughtfully recalibrate our brand and are proud of our core mission: to provide trusted information, from all markets, on all networks.
And with that mission, we had a year of fantastic growth. We tripled our revenue, grew our international presence across our Paris, NYC, London, and Singapore offices, raised $53M in Series B funding, acquired two companies, launched multiple major data products, published cutting-edge original research, partnered with the largest companies in the financial world, and provided thought leadership and sponsorship at 100+ global events.
Overall, we succeeded in embodying the three development themes we defined at the start of 2022, which we dive into below:
1. Data quality and connectivity are crucial for market efficiency.
Since day one, we have recognised the critical importance of data quality in driving market efficiency. Yet to have high quality data, you need high quality infrastructure connecting the increasingly complex network of crypto market participants.
In 2022, we devoted ourselves to positioning Kaiko between the world of traditional finance and the blockchain industry by enhancing our connectivity options.
We now offer data connectivity via 12 distribution channels, with even more coming in 2023. We added major private networks including BT Radianz, ICE Global Network, and IPC, as well as Bloomberg’s B-PIPE, and Deutsche Borse.
As for the data, we are proud to have significantly expanded our core offerings:
- DeFi: We now offer tick-level liquidity pool data for the leading Ethereum-based DEXs and lending and borrowing data for Aave and Maker.
- Quantitative Analytics: We launched the first cryptocurrency Value at Risk calculator and transparent measure for implied volatility thanks to our acquisition of the analytics firm Kesitys.
- Rates and Indices: Our BMR-compliant indices department released a suite of crypto price rates and the industry’s first aggregated quotes for fair value pricing.
Data connectivity is crucial to the development of healthy markets, and at Kaiko our development approach is guided by this understanding. Our process begins with the most granular, high-quality data, delivered through our client’s choice of trusted data pipelines fine-tuned to their needs, and finalised with our 24/7 service and support from real people in real offices around the world.
Look out for a range of new data products and connectivity channels in 2023!
2. Blockchain technology is transforming the financial industry as we know it.
The failures we have witnessed over the past year are expected challenges in any new industry, and there will undoubtedly be more. But if we are to take away any one lesson from the year’s events, it is the importance of the underlying technology: only blockchain can enable the industry to best embody its original ideals of trust and transparency.
At Kaiko, we continued our investment in this technology via partnerships with top blockchain oracles and the development of our DeFi data services. But most importantly, we focused on building bridges with the traditional financial industry.
We partnered with some of the largest financial institutions in the world including Bloomberg, Deutsche Bourse, and Oanda. We also participated in (and won) the CAST Challenge, hosted by Forge at Societe Generale. The CAST challenge had us design a solution for tokenized securities using blockchain, one of the most comprehensive efforts to-date to incorporate this technology into traditional financial processes.
Kaiko’s data and connectivity services are built to power data-hungry blockchain financial processes that will increasingly replace the legacy financial system, and in 2023 we will continue our work with institutions and regulators to accompany them on this transition.
3. Kaiko’s high-quality research and standards drive market maturity.
In 2022, our research and data proved to be a beacon of truth in these uncharted waters. Our data-driven coverage of the crypto credit crisis, the downfall of Terra Luna, the devastating collapse of FTX, and the impact of the Russia-Ukraine war was featured in more than 50 global financial media publications.
The success of our research proved why data is absolutely essential for understanding cryptocurrency markets. Today, Kaiko Research offers four products: two weekly newsletters, a quarterly market report, and weekly Chartbook. All research is available through the leading financial terminals including Bloomberg, Refinitiv, Factset, S&P Capital IQ, and Dow Jones Factiva.
Next year, we will continue shedding light on the critical market events that define our industry, which we believe is essential for driving market maturity.
Conclusion
In 2021, we focused on providing the best possible data. We achieved it. But before a diamond is cut, the true worth is unknown. Our goal for 2022 was to polish, add facets, and make our data accessible, and valuable to our clients in all aspects. Along the way, we succeeded in traversing the gap between blockchain and the traditional financial industry.
In 2023, we will strive to fulfil our ambitious mission of providing trusted information, from all markets, on all networks. We will continue building and strengthening bridges, allowing our clients to travel the same path. Kaiko is no longer just a data aggregator: we are a trusted information and connectivity services provider, enabling growth for the industry.
These three themes guided our development approach throughout 2022 and will continue to fuel our growth into the new year. As the dust settles, we must stick together, pay it forward, and continue building the infrastructure necessary to guide and protect the true value of blockchain technology — a fully trustless and transparent financial future for all.
Ultimately, nothing would have been possible without the support of our stellar team, clients, partners and investors. Thank you all, we look forward to 2023, we wish you a very happy new year!
Ambre Soubiran & the entire Kaiko team.
