SIG DT Investments, Inc. (“SIG DTI”) announced today that it will begin contributing market data to the Pyth network, a decentralized financial market data distribution platform created to publish high fidelity, full streaming market data to smart contracts. SIG DTI is a member of the Susquehanna International Group of Companies (“SIG”), one of the largest proprietary trading firms in the world. SIG DTI will initially contribute pricing information in respect of Bitcoin with plans to contribute market data in other cryptocurrencies as the Pyth network continues to scale.
SIG joins other leading trading firms including Jump Trading Group, Virtu Financial, GTS and DRW Cumberland, among others, with a shared vision of providing precise, real-time market data using high performance blockchains.
“As a leading member of the DeFi Alliance, alongside Jump and other partners of the Pyth network, we’re committed to accelerating the growth of DeFi by spurring oracle solutions like the Pyth network,” said Dean Carlson, Head of Digital Asset Investments at SIG. “We are invigorated by the innovative ways we’re seeing DeFi applications transforming the financial markets for the better and look forward to continuing to collaborate with industry participants to bring these solutions to fruition.”
The Pyth network is built on Solana, a blockchain that handles quick and efficient transmission of fast-moving data, and other blockchains to deliver aggregated market data across protocols.
“We believe that the future of finance will rely on DeFi and are excited to join forces with SIG as we continue to make this vision a reality,” said Michael Cahill, Head of Business Development, Digital Assets, EMEA, of Jump Trading Group. “By partnering with the world’s most important exchanges, traders, and investors to deliver a decentralized, cross-chain market of verifiable data to any smart contract, anywhere, we are enabling DeFi to grow.”
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.