Laser Digital, a subsidiary of Nomura specialized in digital assets, announced its partnership as a data provider with Pyth Network, according to 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 provide crypto price data to the network, while Pyth has expanded to include 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 quickly grown into one of the leading oracle networks, aggregating data from over 90 primary providers including leading trading firms, market makers, crypto exchanges, and traditional exchanges.
The inclusion of Laser Digital into the Pyth ecosystem adds valuable knowledge and experience from the traditional banking sector to the dynamic decentralized finance (DeFi) landscape.
Mike Cahill, CEO of Douro Labs, which contributes to the Pyth ecosystem, expressed his excitement about the integration of Laser Digital into the Pyth Network, saying:
“We are pleased that Laser Digital is joining 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 and confirmed 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 using 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 incorporate Laser Digital into the Pyth Network ecosystem and emphasized the importance of bridging the gap between data contributors from traditional and crypto markets:
“The Pyth Network ecosystem has data contributors from all corners of traditional and crypto markets, including the top trading firms and exchanges worldwide. It is truly fantastic to see Laser Digital joining this community and helping to bring perspective and expertise from the existing financial world.”
— Marc Tillement, Python Data Association
The collaboration fits seamlessly with the blockchain industry’s journey 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 providing market participants with the tools and resources needed to unlock the full potential of decentralized finance.