CoinShares Joins Pyth Network
- Europe’s largest digital asset investment firm has become the latest member of the Pyth Network.
- CoinShares will contribute real-time pricing data to the network, eliminating the need for intermediaries.
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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.
“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.
- Napoleon Asset Management was amongst the first to be licensed under AIMF, giving it passporting permission to market products and services across the EU.
- The acquisition will also expand CoinShares’ products with algorithmic trading and artificial intelligence tools developed by Napoleon.
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- Akuna has become the latest trading company to contribute pricing data to the Pyth Network.
- The options market maker has been active on the crypto market since 2017.
- CTC will join a group of other leading trading firms in providing cryptocurrency prices to the Pyth Network.
- As the Pyth Network grows, the company will expand into equities.