IEX’s Financial Data Platform, IEX Cloud, Joins Pyth Network to Bring Trusted Market Data to Blockchain Apps
IEX Cloud to contribute market data to public Solana blockchain through Pyth Network
New York, July 22, 2021 – IEX Cloud, the independent financial data delivery platform owned by IEX Group, Inc., announced today that it has joined the Pyth network, a blockchain platform that will provide trusted and verifiable market data to a new generation of decentralized applications. This partnership will include IEX Cloud providing real-time market data derived from IEX Exchange to a node on the Pyth network.
The Pyth network is built on Solana, a blockchain platform proven to handle real-world transaction volumes, and the network is designed for the timely and reliable distribution of market data contributed by a diverse network of trusted data market participants and exchanges. The network is a cross-chain project working across other leading blockchains to provide effective, interoperable solutions across blockchain protocols.
“IEX Cloud’s mission is to improve access to trustworthy financial market data and so we’re excited to be part of such an ambitious project by providing real-time market data to the blockchain,” says Tim Baker, Head of IEX Cloud.
“IEX’s interest and involvement in the network is a significant step forward in both the development of the Pyth network and decentralized finance at-large,” said Michael Cahill, Head of Business Development, Digital Assets, EMEA, of Jump Trading Group, one of the leading trading firms involved in the Pyth network. “IEX Cloud will directly contribute data derived from IEX Exchange, allowing Pyth to offer deeper, more robust pricing for single-stock equities, ETFs, and other products.”
“The amount of innovation happening inside of financial services at this moment is pivotal. IEX is enthusiastic about being a part of the Pyth network and will continue to look for ways to transform how both institutions and individuals access our financial markets,” said Brad Katsuyama, CEO and Co-Founder of IEX Group.
About IEX Cloud
IEX Cloud is the data delivery platform owned by IEX Group, the financial technology company that also separately operates the Investors’ Exchange LLC (“IEX Exchange”), a U.S. securities exchange committed to serving all market participants. Since 2019, IEX Cloud has been setting new standards for easy delivery and use of financial data. It offers a flexible, accessible model for connecting developers with curated financial data and provides a high-performance API and custom-built services to help users build, launch, and scale their models, products, and businesses. Learn more at iexcloud.io.
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.
IEX Group, Inc.
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