NEW YORK–(BUSINESS WIRE)–Tower Research Capital (“TRC”), a leading quantitative trading firm, today announced that it has joined the Pyth Network (“Pyth”), a decentralized financial market data distribution platform. TRC will begin by contributing real-time Bitcoin pricing to the Pyth network for consumption by smart contracts.
“We are excited to be part of the Pyth network which we hope has the potential to improve how market data is used in the DeFi ecosystem. At Tower we live by our entrepreneurial spirit and are very eager to embark on this challenge with Pyth,” said Albert An, CEO of Tower Research Capital. TRC’s decision to join Pyth follows a similar move by other industry leaders. Pyth is based on Solana, which is an open-sourced and decentralized blockchain platform, and is building support for cross chain accessibility.
“We are excited to see Tower, another prominent trading firm with deep quantitative expertise, join alongside us at Jump in helping to strengthen the Pyth network by publishing price data, as the DeFi ecosystem continues to scale,” said Kanav Kariya, President of Jump Crypto. “With over 30 committed data providers and nearly 130 projects running using the Pyth oracle feed, we are excited about the momentum, but motivated by the work left to be done.”
About Tower Research Capital
Founded in 1998, Tower Research Capital is a quantitative trading and technology company that has built some of the fastest, most sophisticated electronic trading platforms in the world.
About the Pyth Network
The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely.
For more information about the Pyth network, please visit pyth.network.
About Pyth Data Association
The Pyth Data Association was created in support of the Pyth network, a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth Data Association is overseen by a board of directors elected by members of the Pyth network.
Contacts
Mike McCafferty
[email protected]
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