Virtu Financial, Inc. (NASDAQ:VIRT) today announced that it has joined the Pyth Network, a decentralized financial market data distribution platform. Virtu will contribute its unique financial market data across equities, FX, futures, and cryptocurrencies for consumption by smart contracts using the Solana blockchain and other major blockchains.
Today’s commitment from Virtu adds to a growing list of firms supporting the Pyth Network as the world’s most sophisticated market participants seek better ways to distribute precise, real-time market data using high performance blockchains.
Douglas Cifu, CEO of Virtu Financial said,
“We are excited to join this promising network that we hope will transform the way pricing market data is used on the blockchain. With growing support from the trading community, we believe the Pyth Network will become an integral piece of infrastructure in the quickly evolving DeFi ecosystem, enabling new market participants and more efficient markets.”
The Pyth Network enables data owners to contribute their data on-chain and in a sub-second timescale. The network is built on Solana, a fast blockchain well-suited for timely and cost and energy efficient receipt and distribution of fast-moving data. The Pyth Network also plans to publish high fidelity, streaming, and readily accessible market data through all other major blockchains at their fastest block times.
