Friday, 19 July 2024

Crypto News

Nomura’s Laser Digital partners with Pyth Network as a data provider

Nomura's Laser Digital partners with Pyth Network as a data provider

  • Laser Digital has announced a strategic partnership with Pyth Network
  • The Nomura-backed digital asset platform is set to bring its expertise and experience in the banking world to the growing DeFi ecosystem.
  • Pyth Network currently offers over 450 price feeds from 100+ data providers. 

Laser Digital, a digital asset subsidiary of global financial services Nomura, has become a data provider for oracle platform Pyth Network.

The platform announced that its strategic partnership with the blockchain network will help streamline access to financial market data, and its utilisation within the decentralised finance (DeFi) ecosystem.

In this effort, Laser Digital will tap into its network, tools and resources, per details in a press release sent to CoinJournal on Thursday. Laser Digital will initially provide crypto pricing data.

“We are excited to support Pyth Network in its journey as a decentralised data provider. We look forward to leveraging our expertise and experience to contribute to the growth of the Pyth ecosystem,” Laser Digital CEO Jez Mohideen noted.

Laser Digital and Pyth Network growth

Laser Digital has seen significant growth and traction within the digital assets space over the past year. 

Apart from investing in DeFi protocol Infinity in February 2023, it launched the Bitcoin Adoption Fund for institutional investors in September. These are not the only big moves Laser Digital made in 2023.

It also received an In-Principle approval from the Abu Dhabi Global Market and opened its Japan office before making its metaverse debut after a partnership with The Sandbox. Laser Digital has also partnered with institutional trading platform Talos.

Pyth Network launched in April 2021, and has quickly grown to become one of the crypto industry’s largest oracle networks. Currently, Pyth provides for over 450 price feeds, including for crypto, stocks, forex, exchange-traded funds (ETFs), and commodities.

The first-party oracle protocol draws pricing data from more than 100 data providers. These include crypto exchanges, trading firms, market makers and traditional exchanges.

Pyth Network also offers over 300 decentralised application (dApp) integrations and supports more than 50 blockchains, including Arbitrum.

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