Pyth Network has announced a partnership with Coinbase International Exchange, well-known cryptocurrency exchange, to integrate Pyth’s Lazer technology, aiming to enhance the speed and precision of pricing its data across its trading platforms.
This move will make a substantial advancement in Coinbase’s efforts to deliver a user-friendly experience while it strengthens its own position as a cryptocurrency exchange.
Partnership Details and Technical Integration
With this partnership, the users will be able to access high-quality and low-latency market data. Pyth Network, recognized as one of the largest and fastest-growing first party oracle networks, currently delivers real-time market data to financial decentralized applications across more than 40 blockchains and provides over 380 low-latency price feeds spanning cryptocurrencies, equities, ETFs, foreign exchange pairs and commodities. This will also allow more precise price discovery mechanism for the users.
Marc Zeitouni, Director of Product at Coinbase International Exchange, expressed enthusiasm about the collaboration, stating “Coinbase International Exchange is dedicated to delivering unparalleled trading experiences. By integrating Pyth’s Lazer technology we’re enhancing the speed and precision of pricing data on our exchange. We’re excited to collaborate with Pyth and continue pushing the boundaries of innovation in the crypto trading space.”
Impact on DeFi Innovation and Trading Capabilities
This partnership comes at a critical time for the decentralized finance (DeFi) ecosystem, which continues to evolve rapidly despite market volatility. The integration of Pyth’s technology into Coinbase’s infrastructure promises to drive DeFi innovation through several enhancements.
Users will be able to benefit from the real-time market prices. More detailed view of available liquidity across different price levels will be made available to the users. Moreover, the partnership will enable custom update frequencies tailored to specific trading strategies and asset classes.
Another significant advantage will be access to live buy/sell spreads with greater accuracy and timeliness, allowing traders to make more strategic decisions based on current market conditions.
The integration also includes full liquidity monitoring capabilities, offering insight into market movements and potential trading opportunities that were not previously available at this level of precision.
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