IEX Cloud Announces Cooperation with Pyth Network

IEX Cloud, the financial data delivery platform belonging to IEX Group, Inc., announced that it has joined the Pyth network, a decentralised financial market data distribution network. 

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With the new partnership, IEX Cloud will directly provide real-time market data derived from IEX Exchange to a node on the Pyth network, allowing Pyth network to offer deeper, more robust pricing for single-stock equities, ETFs, and other products. According to Pyth network, the cooperation with IEX is a significant step forward in both the development of the Pyth network and decentralized finance at-large.

"IEX Cloud's mission is to improve access to trustworthy financial market data and so we're excited to be part of such an ambitious project by providing real-time market data to the blockchain," says Tim Baker, Head of IEX Cloud.

"The amount of innovation happening inside of financial services at this moment is pivotal. IEX is enthusiastic about being a part of the Pyth network and will continue to look for ways to transform how both institutions and individuals access our financial markets," said Brad Katsuyama, CEO and Co-Founder of IEX Group.

Fazzaco reported that nearly one month ago, LMAX Group​ became the first major institutional exchange to join the Pyth Network. And then New York-based Virtu Financial Inc., a financial services and technology provider, announced cooperation with the Pyth Network.