finbold.com
Laser Digital, a Nomura subsidiary specializing in digital assets, disclosed its collaboration as a data provider with Pyth Network, according to the information shared with Finbold on March 7.
The partnership marks a milestone in Laser Digital’s quest to redefine the use of financial market data within a decentralized ecosystem.
Initially, Laser Digital will furnish crypto pricing data to the network, while Pyth has expanded to incorporate more than 400 price feeds, including traditional assets such as stocks, foreign exchange (Forex), and commodities.
How can Laser Digital and Pyth work together?
In its three years in the market, Pyth Network has rapidly ascended to become one of the leading oracle networks, sourcing data from over 90 primary providers, including prominent trading firms, market makers, crypto exchanges, and traditional exchanges.
The inclusion of Laser Digital in Pyth’s ecosystem infuses valuable knowledge and experience from the traditional banking sector into the dynamic decentralized finance (DeFi) landscape.
Mike Cahill, CEO of Douro Labs, a contributor to the Pyth ecosystem, expressed enthusiasm about Laser Digital’s integration into the Pyth Network, stating:
“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.”
— Mike Cahill, CEO of Douro Labs
Jez Mohideen, CEO of Laser Digital, echoed Cahill’s sentiment, affirming the company’s excitement to support Pyth Network as a decentralized data provider:
“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.”
— Jez Mohideen, CEO of Laser Digital
Bridging centralized and decentralized finance
Marc Tillement of the Pyth Data Association praised the decision to include Laser Digital in the Pyth Network ecosystem, emphasizing the significance of bridging the gaps between data contributors from traditional and crypto markets:
“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.”
— Marc Tillement, Pyth Data Association
The collaboration seamlessly aligns with the trajectory of the blockchain industry towards high throughput DeFi and the growing demand for low-latency on-chain data.
As Pyth Network continues its evolution, Laser Digital remains committed to empowering market participants with tools and resources needed to unlock the full potential of decentralized finance.