FTX joins Pyth Network as the newest exchange partner
ANTIGUA, 1 July 2021 – FTX Trading Limited (“FTX” or “The Company”), today announced that it has begun publishing cryptocurrency prices to the Pyth Network (“The Network”), a decentralized financial market data distribution platform designed to bring real-world data on-chain on a sub-second timescale.
The Pyth Network enables market data providers like FTX to make their contributions to the Network on-chain and in a sub-second timescale. FTX has worked closely with the Pyth Network since April to make sure the cryptocurrency price data provided by the exchange is effectively integrated into the Network.
“We are laser-focused on addressing longstanding gaps in the crypto marketplace, which is precisely why we launched FTX in May of 2019 as a reliable, secure and robust platform designed to meet the needs of institutional traders,” said FTX Founder & CEO, Sam Bankman-Fried. “This is why were excited to work with the Pyth Network, as they’re leveraging the power of Solana and other major blockchains to fill the need in the market for a precise, high performance solution for making financial data available publicly.”
The Network was developed to publish high fidelity, full streaming market data by leveraging smart contracts on the Solana blockchain and other major blockchains. FTX joins a growing list of firms supporting the Pyth Network as the world’s most sophisticated market participants seek better solutions for distributing precise, real-time market data by leveraging high performance blockchains.
Bankman-Fried concluded, “This is an important and exciting development for the DeFi ecosystem and I look forward to working with the Pyth Network to bridge the gap between traditional finance and the blockchain.”
FTX.COM is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX.COM strives to be an intuitive yet powerful platform for all kinds of users, and to be the most innovative exchange in the industry. FTX.COM has grown quickly since its founding, becoming one of the most respected cryptocurrency exchanges in the world in less than 2 years.
To learn more about FTX.COM, please visit: https://ftx.com/
FTX.COM is not available to US residents or residents of other prohibited jurisdictions, as set out in its Terms of Service.
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 https://pyth.network.