Nomura Teams Up With Pyth Network to Enhance Web3

Nomura's digital asset subsidiary, Laser Digital, announced a partnership with Pyth Network to drive web3 development. This partnership is intended to strengthen data diversity and quality by integrating Laser Digital's expertise into Pyth's extensive network. With over 400 pricing sources, this move not only supports the growth of the Decentralized Finance (DeFi) model, but also caters to the growing demand for high-quality blockchain data in the blockchain industry. The collaboration highlights Nomura's commitment to digital innovation and underscores the importance of partnerships to drive economic development in the technology industry

Laser Digital, through a press release, announced its strategic partnership with Pyth Network, a key provider of data on the internal Oracle network. By joining Pyth Network's existing 400+ pricing sources, Laser Digital will strengthen the diversity and quality of data in the web3 space. This initiative not only supports DeFi's growth, but also responds to the growing demand for high quality, low latency blockchain data in the blockchain industry.

"This is a fantastic step forward in building the leading financial market data oracle for web3," says Mike Cahill, CEO, Douro Labs and contributor to the Puth ecosystem.

The partnership translates into a significant contribution from Laser Digital to the Pyth ecosystem, offering expertise and resources to address the growing demand for high quality data. Jez Mohideen, CEO, Laser Digital, expressed his enthusiasm to support Pyth Network on its journey toward becoming a decentralized data provider, and emphasized the intention to leverage its expertise to contribute to the continued growth of the Pyth ecosystem to further its DeFi capabilities.

"The Pyth Network ecosystem has data contributors from all corners of the traditional markets and cryptomarkets, including major trading firms and exchanges globally. It is really great to see Laser Digital joining this community to help bring perspective and expertise from the existing financial world," Marc Tillement, Director, Pyth Data Association.

Pyth Network, established in 2021, has rapidly evolved as a key Oracle network, sourcing data from over 90 proprietary vendors in both traditional and crypto markets. Its recent partnership with Hedera has unlocked more than 400 real-time data sources for DeFi developers, further strengthening its position in the industry.