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CoinShares has become the latest company to join the growing Pyth Network. According to a press release published on 4 August, CoinShares will be contributing real-time crypto pricing data directly to the network. 

Digital asset investment firm CoinShares participated in Solana’s Q2 2021 token sale and is currently evaluating opportunities to migrate its core trading and capital markets infrastructure to the blockchain. By joining the Pyth Network, CoinShares will enable consumers to stream data directly from the blockchain in real-time, effectively removing the need for intermediaries and third-party aggregators.

Jean-Marie Mognetti, the CEO of CoinShares, said that since launching its first crypto exchange-traded product (ETP) in 2015, the company has been focused on enabling effective price discovery. With regulators often citing a lack of transparency related to pricing as the core reason behind denying retail access to crypto ETPs and ETFs, CoinShares believes the partnership with Pyth will be beneficial to the sector.

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“Pyth network was an obvious partnership for us, as we continue to execute on our vision to unlock more transparency and establish trust in the broader crypto ecosystem using the underlying blockchain protocol to provide verifiable, trusted, real-time data to market participants,” he explained in the press release. 

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