Financial Services Firm, JST Capital, Joins Pyth Network, a Next-Gen Oracle Platform

JST Capital, an international financial services company specializing in digital assets, has  announced that it has joined the Pyth Network, which claims to be a next-gen Oracle platform designed to offer trusted and verifiable market data to decentralized applications (dApps), and will be offering real-time “institutional-grade” crypto market data in “sub-second frequency.”

Pyth users will be able to “leverage JST’s market data through the aggregate Pyth oracle price, being used for on-chain smart contract development in the growing DeFi ecosystem,” according to an updste shared with CI.

Based in the US and Singapore, JST Capital is a quantitative trading company that mainly focuses on the digital asset ecosystem and “provides various financial services to exchanges, token issuers, HNWIs and other institutional market participants,” the update noted.

As operators with extensive experience working in traditional finance, the JST team knows the value of institutional grade market data and the impact “making it easily accessible on-chain via the Pyth Network will have on companies seeking to gain exposure to crypto markets and take advantage of the nascent asset class.”

Scott Freeman, Partner and Co-Founder of JST Capital, stated:

“Coming from the traditional financial industry, we know the value high-quality and immediate market data provides to firms looking to operate competitively in global markets. With more institutional investors moving into the world of crypto, it is important to ensure that they have the market data experience they’re accustomed to. Pyth is one of the fastest growing crypto market data providers in the digital asset ecosystem and we’re excited to work alongside them to increase access to this data and level the playing field for traders looking to involve themselves in the future of finance.”

Data oracles such as the Pyth Network serve as the “connection between blockchains and the off-chain data sources necessary for decentralized financial (DeFi) applications.”

Further enhancements in DeFi require high-fidelity, time-sensitive, real-world data, which has “historically been inaccessible on-chain.”

The Pyth Network solves that problem by “bringing real-world data to the Solana blockchain in a tamper-resistant environment,” the update explained.

Announced in August 2021, the Pyth Network has reportedly seen steady growth – more than 40 data providers are now “beginning to contribute real-time pricing across crypto, equities and FX – and many decentralized applications are starting to use the oracle on Solana with future cross chain capabilities via Wormhole,” the announcement revealed.


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