Genesis Global Trading, Inc. (“Genesis”), an industry pioneer and leader in over-the-counter digital currency trading, today announced that it has joined the Pyth network, a decentralized financial market data distribution platform. By joining Pyth, Genesis will be providing cryptocurrency prices to the Pyth network to enable real-world data on-chain on a sub-second timescale.
Genesis’s announcement comes on the heels of similar announcements from leading trading firms Jump Trading Group, Virtu Financial, and GTS as market participants channel the power of the blockchain for real-world applications.
“We are excited to join the first set of data providers the Pyth network is assembling,” said Martin Garcia, Managing Director at Genesis. “We look forward to working in tandem to accelerate DeFi applications and create more efficient markets.”
The Pyth network is built on Solana, a fast blockchain well-suited for timely and cost and energy efficient receipt and distribution of fast-moving data, and other major blockchains to deliver real-time, high performance and verifiable data. Pyth also plans to make its Mainnet debut imminently.
“We are excited that Genesis has joined the rapidly expanding group of industry pioneers who share the goal of distributing precise, high caliber financial data using high performance blockchains,” said Michael Cahill, Head of Business Development, Digital Assets, EMEA, of Jump Trading Group. “Bringing another leading industry participant into the Pyth network coupled with its approaching Mainnet launch, brings the industry one step closer to better decentralized markets.”
About Genesis Global Trading
Genesis Global Trading, Inc. is part of the Genesis group’s full-service digital currency prime brokerage providing a single point of access for high-net worth and institutional investors and other suitably qualified individuals. The Genesis group offers sophisticated market participants a fully integrated platform to trade borrow, lend, and custody digital assets, creating new opportunities for yield while increasing capital efficiency for counterparties.
Genesis combines unrivaled operational excellence, a seamless user experience, and best-in-class client service to provide the full suite of services global investors require to manage their digital asset portfolios. For more information about Genesis, please visit https://genesistrading.com/.
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.