Talos, a provider of trading technology for digital assets, has joined the Pyth Network, a platform designed to provide trusted and verifiable market data to decentralised applications.
As part of the mandate, Talos will provide real-time institutional crypto market data to the Pyth Network.
The Pyth Network serves as a connection between blockchains and the off-chain data sources necessary for decentralised financial (DeFi) applications.
Further improvements in DeFi require high-fidelity, time-sensitive, real-world data, which has historically been inaccessible on-chain, says Talos.
The Pyth Network solves that problem by bringing real-world data to the Solana blockchain in a tamper-resistant environment, it adds.
Nearly 40 data providers are now beginning to contribute real-time pricing across crypto, equities and FX with assistance from the Pyth Network.
Founded in 2018 by Anton Katz and Ethan Feldman, Talos has rapidly scaled its business since establishing its platform in October 2020.
In May, Talos closed a $40 million Series A investment round, with investments from Fidelity Investments, Galaxy Digital, Elefund, Illuminate Financial and STEADFAST Capital Ventures.
Anton Katz, co-founder and CEO of Talos, says: “Institutional adoption of digital assets is well underway at this point, but what we’re also starting to see is these same institutions adopt DeFi. We are excited to be a part of this project that helps further advance critical DeFi infrastructure and has the potential to unlock greater efficiency and transparency in our financial system.”
