TL;DR
- Strategic Partnership: Nomura’s digital asset subsidiary, Laser Digital, has partnered with Pyth Network to enhance financial data accessibility in the DeFi ecosystem.
- Data Integration: Laser Digital will provide high-quality data on crypto and traditional assets to Pyth Network, bolstering the reliability of DeFi applications.
- Mutual Growth: The collaboration aims to advance the digital finance frontier, with both parties benefiting from shared expertise and a commitment to compliance and risk management.
Laser Digital, the digital asset subsidiary of the global financial services giant Nomura, has announced a strategic partnership with Pyth Network, a decentralized financial market data oracle. This collaboration is set to redefine the landscape of financial data accessibility within the DeFi ecosystem.
We are excited to welcome Laser Digital, @Nomura’s digital asset subsidiary, to the Pyth Network 🔮@LaserDigital_ will contribute crypto price data to the network to support Pyth’s mission of delivering dependable, real-time access to asset prices.
Learn more about our… pic.twitter.com/2eGwFr5l0e
— Pyth Network 🔮 (@PythNetwork) March 7, 2024
Laser Digital will serve as an institutional data provider to Pyth Network, contributing its extensive crypto price data, as well as information on traditional assets such as equities, commodities, and foreign exchange. This integration will enable downstream applications to leverage high-fidelity financial data for various purposes, enhancing the robustness and reliability of the information available within the DeFi space.
Jez Mohideen, CEO of Laser Digital, expressed enthusiasm about the partnership, stating:
“This collaboration is a testament to the transformative power of decentralized finance, and we look forward to leveraging our expertise and experience to contribute to the growth of the Pyth ecosystem.”
The sentiment was echoed by Mike Cahill, CEO of Douro Labs, who remarked:
“We are thrilled to see Laser Digital join the Pyth Network. This is a fantastic step forward in building the leading financial market data oracle for Web3.”
The Synergy of Laser Digital and Pyth Network’s Expertise
The partnership marks a significant milestone for Laser Digital as it continues to redefine the frontier of digital finance. Backed by Nomura, Laser Digital is committed to delivering scalable, robust opportunities across trading, asset management, and ventures, all while adhering to higher standards of risk management, compliance, and commercial viability.
The Pyth Network, known for its community of data contributors from both traditional and crypto markets, including top trading firms and exchanges globally, stands to benefit greatly from Laser Digital’s perspective and expertise.
Marc Tillement, Director at the Pyth Data Association, highlighted the importance of the partnership, “Our team at Douro is looking forward to working alongside and learning from the team at Laser.”
As the DeFi sector continues to evolve, partnerships like the one between Laser Digital and Pyth Network are pivotal in ensuring that the digital data marketplace meets the needs of institutional-grade applications. This alliance not only strengthens the infrastructure of the Defi ecosystem but also paves the way for more responsible engagement in digital assets.
