According to a press release published on 6 July, the Chicago Trading Company (CTC) has joined the Pyth Network to provide cryptocurrency prices to the decentralized network. As the Pyth Network continues to scale, the CTC will expand into equities and provide pricing data for other asset classes in the future.
Brett Estell, the Global Co-Head of Trading at CTC, said the company was excited to join a strong community of trading firms and exchanges that Pyth has gathered. CTC will enable Pyth to access market prices in real-time and harness the power of new technologies in the financial market.
The Pyth Network is a specialized oracle solution built on the Solana blockchain. The network provides high-performance, latency-sensitive financial data in a timely and cost-efficient way. Since its launch in April 2021, Pyth has partnered with GTS, Virtu Financial, LMAX Group, Jump Trading Group, Genesis, and the Bermuda Stock Exchange (BSX).
“We are humbled by the pace at which the Pyth network is expanding as more industry participants see the value in the network and the potential it could have on our markets,” said Kanav Kariya, Director of Strategic Initiatives, Digital Assets of Jump Trading Group.