Quick take:
- Laser Digital will initially provide crypto data to the Pyth Network ecosystem.
- Pyth Network users can access over 400 price feeds from multiple assets including crypto, stocks, ETFs, Forex and commodities among others.
- The DeFi community will be able to benefit from Lazer Digital’s expertise and experience in the traditional banking sector.
Laser Digital, the digital asset subsidiary of Japanese investment banking giant Nomura Group has joined Pyth Network as a data provider. According to Pyth Network, this partnership is a significant milestone for the DeFi industry as it draws expertise and experience from the traditional banking world.
Laser Digital joins a growing list of more than 90 first-party providers across traditional asset and crypto markets in Pyth Network. According to the agreement, the company will initially provide crypto data to the network.
Pyth Network has grown over the years to become one of the largest data oracle networks, providing more than 400 price feeds for multiple asset types including crypto, stocks, ETFs, Forex and commodities among others.
Commenting on the partnership, Mike Cahill, CEO of Douro Labs, a contributor to the Pyth ecosystem said in a statement: “We are thrilled to see Laser Digital join the Pyth Network. This is a fantastic step forward in building the leading financial market data oracle for web3.”
Jez Mohideen, CEO of Laser Digital commented: “We are excited to support Pyth Network in its journey as a decentralized data provider. We look forward to leveraging our expertise and experience to contribute to the growth of the Pyth ecosystem.”
This partnership highlights the current trend in decentralised finance amid the growing demand for low-latency, high-frequency on-chain data. Established in April 2021, Pyth Network has grown to become the largest first-party network to publish financial data on-chain for decentralised apps. Its data contributors include trading firms, market makers, crypto exchanges, and global traditional exchanges.
“The Pyth Network ecosystem has data contributors from all corners of traditional markets and crypto markets, including the top trading firms and exchanges globally. It is really fantastic to see Laser Digital join this community to help bring in perspective and expertise from the existing finance world,” commented Marc Tillement of the Pyth Data Association.
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