Among various nanometer-level displacement measurement methods, grating interferometry-based linear encoders are widely used due to their high robustness, relatively low cost, and compactness. One trend of grating encoders is multi-axis measurement capability for simultaneous precision positioning and small order error motion measurement. However, due to both lack of suitable hardware data processing platform and of a real-time displacement calculation system, meeting the requirements of real-time data processing while maintaining the nanometer order resolutions on all these axes is a challenge. To solve above-mentioned problem, in this paper we introduce a design and experimental validation of a field programmable gate array (FPGA)-cored real-time data processing platform for grating encoders. This platform includes the following functions. First, a front-end photodetector and I/V conversion analog circuit are used to realize basic analog signal filtering, while an eight-channel parallel, 16-bit precision, 200 kSPS maximum acquisition rate Analog-to-digital (ADC) is used to obtain digital signals that are easy to process. Then, an FPGA-based digital signal processing platform is implemented, which can calculate the displacement values corresponding to the phase subdivision signals in parallel and in real time at high speed. Finally, the displacement result is transferred by USB2.0 to the PC in real time through an Universal Asynchronous Receiver/Transmitter (UART) serial port to form a complete real-time displacement calculation system. The experimental results show that the system achieves real-time data processing and displacement result display while meeting the high accuracy of traditional offline data solution methods, which demonstrates the industrial potential and practicality of our absolute two-dimensional grating scale displacement measurement system.