Home » DeFi » Nomura’s crypto arm teams up with Pyth Network to enhance web3 data’s diversity and quality

Nomura’s crypto arm teams up with Pyth Network to enhance web3 data’s diversity and quality

Mar. 7, 2024

The collaboration promises to enrich the Pyth Network with diverse, high-quality crypto pricing data.

Japanese banking giant partners with Pyth Network

Laser Digital (LD), the digital asset subsidiary of Japanese banking giant Nomura, announced its partnership with Pyth Network, a preeminent first-party oracle network, in a press release published today. With this move, LD will become a data provider for Pyth Network, expanding Pyth Network’s data oracle capabilities for web3 and contributing to DeFi’s growth.

As part of the collaboration, LD will bring a wealth of expertise and resources to the table, contributing crypto pricing data to Pyth’s extensive network. The network currently has over 400 price feeds covering digital assets, stocks, ETFs, foreign exchange, and commodities. The new partnership aims to meet the increasing demand for high-quality, low-latency on-chain data and support high-capacity DeFi in the blockchain industry, according to the press release.

Mike Cahill, CEO of Douro Labs and a contributor to the Pyth ecosystem, expressed his enthusiasm about LD’s involvement, saying, “This is a fantastic step forward in building the leading financial market data oracle for web3.”

Jez Mohideen, CEO of Laser Digital, also expressed enthusiasm for the partnership and commitment to the future growth of the Pyth ecosystem.

“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,” said Mohideen.

Marc Tillement, Director of the Pyth Data Association, sees Laser Digital as a valuable addition that helps enhance the quality and diversity of Pyth Network’s data feeds.

“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,” stated Tillement.

Pyth Network, established in April 2021, has quickly become a prominent oracle network, sourcing data from over 90 first-party providers in both traditional and crypto markets. The project recently partnered with Hedera to unlock over 400 real-time data feeds for DeFi developers.

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