Gemini Teams Up with Pyth Network to Offer “Trusted” Crypto Market Price Data

Digital asset firm Gemini recently revealed their upcoming partnership with the Pyth network in order to “bring accurate and trusted on-chain market data to users across the globe.”

As a data publisher to Pyth, Gemini is delighted “to continue contributing to the growth of the DeFi ecosystem by providing [their] real-time price information to protocols and projects on-chain, courtesy of Superlunar — a Gemini web3 research & design studio — which automated the extraction of the pricing data.”

At Gemini, they provide customers “with accurate, real-time data on crypto prices, and we are delighted to integrate with Pyth to expand access to critical market data.”

The Pyth network is “a specialized oracle solution for latency-sensitive financial data that is typically kept within the ‘walled gardens’ of centralized institutions.” It operates “one of the largest and most reliable oracle networks, deriving price data from more than 65 leading institutions, both in crypto and traditional finance.”

Gemini’s forthcoming partnership with the Pyth network to bring valuable financial market data to DeFi applications and the general public “directly aligns with our mission to unlock the next era of financial, creative, and personal freedom.”

Stephen Kaminsky from Special Projects at Jump Crypto, one of the leading organizations helping to build the oracle, stated:

“Gemini is a well-respected and top incumbent player in the crypto space. Their leadership amongst the institutional community, in particular, makes them strong partners for the Pyth network, which is bringing together the top global trading firms, exchanges, and other institutions into the crypto and web3 ecosystem. The data, and experience, they bring will be invaluable for the Pyth community.”

In another update from Gemini, it was noted that they are excited “to announce a two-year renewal of our participation in the Digital Currency Innovation Lab (DCIL), a program designed to provide regulated crypto access to Hawaii residents.”

Although the original DCIL program was scheduled to end for all participants later this year, the Hawaii Division of Financial Institutions (DFI) and Hawaii Technology Development Corporation (HTDC) “extended the program through 2024.”

Over the past two years, Gemini has “served as a leading participant in the DCIL, and we are thrilled to continue providing seamless crypto access to customers in Hawaii.”

The HTDC, in partnership with the Hawaii DFI, “launched DCIL to create opportunities for economic development and position Hawaii as a leader in fintech innovation.”

The program aims “to spur economic opportunity through early crypto adoption, offer consumer protection through guidance provided to crypto issuers, and gather data to shape crypto legislation.”

With their participation in this program, Gemini continues “to provide a safe and regulated onramp to the crypto ecosystem to customers in all 50 U.S. states.”

They’re encouraged by “the response and enthusiasm [they’ve] seen from our customers in Hawaii and are grateful we can continue to serve them.”

Providing crypto access to their customers in Hawaii is “a further step in [their] mission to unlock the next era of financial, creative, and personal freedom around the world.”

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