Virtu Financial Becomes the Newest Company to Join Pyth Network
New York-based Virtu Financial Inc. (NASDAQ: VIRT), a financial services and technology provider, yesterday announced that it has joined the Pyth Network, a decentralised financial market data distribution network.
With the new partnership, Virtu will contribute its unique financial market data across equities, FX, futures, and cryptocurrencies for consumption by smart contracts using the Solana blockchain and other major blockchains.
The Pyth Network enables data owners to contribute their data on-chain and in a sub-second timescale. The network is built on Solana, a fast blockchain well-suited for timely and cost and energy efficient receipt and distribution of fast-moving data. The Pyth Network also plans to publish high fidelity, streaming, and readily accessible market data through all other major blockchains at their fastest block times.
Douglas Cifu, CEO of Virtu Financial, commented, “We are excited to join this promising network that we hope will transform the way pricing market data is used on the blockchain. With growing support from the trading community, we believe the Pyth Network will become an integral piece of infrastructure in the quickly evolving DeFi ecosystem, enabling new market participants and more efficient markets.”
As Fazzaco reported earlier, LMAX Group has become the first major institutional exchange to join the Pyth Network. This partnership will allow LMAX Group to directly publish its FX and cryptocurrency data to the network, supporting Pyth's vision of distributing readily available, real-time, and verifiable data using high performance blockchains.
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