According to a press release published on 19 July, Akuna Capital has joined the Pyth Network to contribute its unique cryptocurrency market data to the growing oracle platform. Founded in 2011 in Chicago with a focus on the options market, Akuna now employs over 400 people globally and trades options on a wide range of products, including indices, commodities, currencies, and treasuries.
Since 2017, the company has become active in the cryptocurrency space, enabling its users to trade spot, futures, and options on exchanges and OTC, covering high-market cap coins.
John Harris, the CEO of Akuna Digital Assets, said the company believed in Pyth’s next-generation oracle solution to distribute precise, real-time market data on a sub-second timescale. Akuna said it’s honored to join the likes of other experienced trading companies like Jump, Genesis, Chicago Trading Company, and Virtu in supporting Pyth, Harris added in the press release.
“Akuna’s irrefutable strong success in options makes them an important contributor to our ecosystem,” said Kanav Kariya, the Director of Strategic Initiatives and Digital Assets at Jump Trading Group. “As one of the few firms to have successfully entered the options industry at scale in recent years, we are grateful for their support as we enable new market participants and more efficient markets through this powerful piece of infrastructure.”