In a significant move for decentralized finance (DeFi), Laser Digital, the digital asset subsidiary of Nomura, has announced its participation as a data provider for Pyth Network. This collaboration marks a critical step for Laser Digital in shaping how financial market data is accessed and utilized within the DeFi ecosystem.
Established in 2021, Pyth Network has become a leading oracle network, drawing data from over 90 trusted institutions across traditional and crypto markets. This network includes prominent trading firms, market makers, crypto exchanges, and traditional exchanges worldwide. Laser Digital’s addition to this network injects valuable expertise and experience from the established financial sector into the burgeoning DeFi community.
Initially, Laser Digital will contribute valuable crypto pricing data to the network. Pyth already offers over 400 price feeds, encompassing not only digital assets but also traditional assets like stocks, foreign exchange, and commodities. This partnership aligns perfectly with the blockchain industry’s shift towards high-throughput DeFi and the growing need for real-time, on-chain data.
“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,” commented Mike Cahill, CEO of Douro Labs, a contributor to the Pyth ecosystem.
The company’s commitment to an open and dynamic culture, coupled with its market adaptability, aligns seamlessly with Pyth Network’s vision.
“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”, stated Jez Mohideen, CEO, of Laser Digital.
As Pyth Network continues to evolve, Laser Digital remains dedicated to providing market participants with the tools and resources needed to unlock the full potential of DeFi.
This collaboration brings a valuable perspective from the traditional finance world to the Pyth Network, further solidifying its position as a leading source of reliable data for the DeFi space.
“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 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.
