Pyth Network's data ecosystem will be supported by Laser Digital, a Nomura digital asset subsidiary. In particular, the new partnership will advance Pyth Network's crypto price tooling.
Laser Digital forges partnership with Pyth Network oracle provider
According to the official statement by its team, Laser Digital, Nomura’s digital asset subsidiary, proudly announces its involvement as a data provider to Pyth Network. This collaboration signifies a pivotal moment in Laser Digital's commitment to redefine how financial market data is accessed and utilized within the decentralized ecosystem.
The collaboration between Laser Digital and Pyth Network will initially start from crypto pricing data to Pyth's on-chain oracles. By Q1, 2024, Pyth has scaled to include over 400 price feeds, which include not just digital assets but also traditional assets like stocks/ETFs, foreign exchange and commodities.
The partnership aligns seamlessly with the blockchain industry's trajectory toward high throughput DeFi and the growing demand for low-latency, high-frequency on-chain data.
Marc Tillement of the Pyth Data Association highlights the importance of the collaboration for his product and data logistics in Web3 as a whole:
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.
As Pyth Network continues its evolution, Laser Digital remains steadfast in its dedication to providing market participants with the tools and resources needed to unlock the full potential of decentralized finance.
Strengthening data ecosystem in Web3
Jez Mohideen, CEO of Laser Digital, is also excited by the partnership that kicked off today:
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.
With an open and dynamic culture, Laser Digital has the freedom to adapt to market needs, to move swiftly to capitalization, and to share knowledge with clients and partners – bringing greater confidence to the institutional market for the benefit of all.
As covered by U.Today previously, Pyth Network is among the beneficiaries of the Q1, 2024, Solana (SOL) euphoria, as the protocol is built on top of the blockchain.
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