Joins the Pyth Network - DeFi Technologies will bring its real-time cryptocurrency pricing data to the Pyth network to improve DeFi market transparency
- DeFi Technologies joins an impressive community of market leading trading firms including Jump Trading Group, Two Sigma Securities, DRW Cumberland and Susquehanna with a shared vision in accelerating the growth of the DeFi ecosystem
TORONTO, Nov. 3, 2021 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (NEO: DEFI) (GR: RMJR) (OTC: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, today announced it will be delivering its real-time crypto pricing data to the Pyth network, a decentralized financial market data distribution platform.
The Pyth network has clearly seen impressive growth, onboarding some of the world's largest trading firms and reputable regulated exchanges to help connect market data to any smart contract. DeFi Technologies joins this exciting community of market leading trading firms including Jump Trading Group, Two Sigma Securities, DRW Cumberland, and Susquehanna with a shared vision in accelerating the growth of the decentralized finance ecosystem.
"This important collaboration demonstrates our commitment to accelerating the growth of the decentralized finance ecosystem and actively supporting the development of its infrastructure,' said Diana Biggs, Chief Strategy Officer of DeFi Technologies. "Pyth's vision of making markets more accessible and transparent aligns with ours, and we are delighted to be contributing to the Pyth community to make this a reality."
Decentralized finance relies on high-fidelity, time-sensitive, real-world data, but has no way to access it. The Pyth network solves this by bringing a decentralized, cross-chain market of verifiable data from high-quality nodes, giving DeFi comprehensive access to the vast amount of hi-fi financial services data it needs to make smart contracts work smarter. By participating in this network, DeFi Technologies is able to contribute its market data from across its business lines directly to the Pyth network where consumers of data can stream it directly from the blockchain, in real time and with a high degree of confidence.
DeFi Technologies is the first and only publicly traded company built to give investors direct exposure to the rapidly growing space of decentralized finance. Among its multiple business lines is its wholly-owned subsidiary Valour, Inc. the European-based issuer of digital asset exchange-traded products which has grown to US$322M in AUM as of November 2, 2021, in less than a year. DeFi Technologies is rapidly expanding its business activities globally to bring its offerings to more investors globally and ultimately expand access to the growing decentralised finance ecosystem.