Bybit Becomes Data Provider On Pyth Network

Key Points:

• Oracle network Pyth announced a partnership with crypto exchange Bybit.
• The exchange will become a data provider on the Pyth network and offer real-time crypto prices.
• Bybit is committed to democratizing financial markets by making available market data that is only accessible to a limited set of institutions and users. This partnership marks an important contribution towards a more transparent future for financial services, according to Bill Xing, Head of Financial Products of the exchange.

Oracle network Pyth and cryptocurrency exchange Bybit have established cooperation. The exchange will join the Pyth network as a data provider and give real-time cryptocurrency pricing.

Bybit is a premier global digital asset trading platform. It was founded in 2018 and gives cryptocurrency traders a professional platform with an ultra-fast matching engine, first-rate customer support, and multilingual community assistance.

With support for more than 16 languages and availability in more than 160 countries, Bybit keeps giving its clients reliable security frameworks with 99.99% functioning.

Bill Xing, Head of Financial Products at Bybit, said:

“We are excited to partner with Pyth and provide the blockchain community with the accurate, transparent data it needs to develop the next generation of financial products.

Bybit is committed to democratizing financial markets by making available market data that was only accessible to a limited set of institutions and users. This partnership marks an important contribution towards a more transparent future for financial services.”

The world’s most prominent trading businesses, exchanges, and core cryptocurrency organizations all have financial pricing data, and Pyth is the premier oracle network today, delivering it straight on-chain.

The publishers powering the network have been carefully vetted to ensure their price data is of the utmost quality. To supply this high-quality data on a high-frequency cadence, data providers need to directly control their pricing information, be able to contribute reliably and consistently, and own their data themselves.

As Coincu reported, the launch of Bybit’s Proof of Reserve (PoR) solution has been announced. Users may now verify their asset balances, the ownership and balance of wallet addresses that the exchange has revealed, the reserve ratio, and other information.

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