Pyth Network looks to disrupt data hegemony with new marketplace
Pyth Network, a blockchain data oracle provider, is launching a platform for financial institutions to publish and monetize their market data across blockchain networks.
The Pyth Data Marketplace will initially support datasets for spot foreign currency exchange markets (FX), precious metals and crude oil swaps, while allowing publishers to retain “full control” over the data they share, according to Thursday’s announcement.
Seven new institutional data providers will publish price feeds on the marketplace at launch, the announcement said.
Pyth’s price feeds span equities, commodities, precious metals and FX. Source:
Pyth Network
These include stock exchange Euronext, data provider Exchange Data International, asset manager Fidelity Investments, financial exchange OTC Markets Group, Singapore Exchange FX and the Tradeweb trading platform.
The announcement reflects how blockchain technology can democratize access to financial data, which has traditionally been controlled by a handful of service providers who charge exorbitant fees for high-quality market pricing data.
Related: Polymarket expands into equities and commodities with Pyth price feeds
Pyth to enable customers to “pull” data rather than traditional “push”
Pyth’s data pull model allows customers to pay for market data on demand, instead of traditional push-based oracle models that force users to pay for entire datasets, which they may or may not need.
This reduces the cost for the end user, according to Michael James, the head of institutional business development at Douro Labs, the main developer behind the Pyth Network.
Traditional service providers monopolize the $50 billion financial data industry, James told Cointelegraph at Consensus 2025. That is now being challenged by new emerging blockchain alternatives like Pyth and Chainlink.
"These data vendors have no competition in traditional finance, and so they have all the pricing power in the world,” he said.
Banks, hedge funds, trading firms and other financial institutions are forced to buy this financial data for “compliance” reasons, James added.
The market share of different blockchain oracle providers. Source:
DeFiLlama
In August 2025, the US Department of Commerce selected Pyth and blockchain oracle provider Chainlink to publish economic data onchain.
Pyth was initially selected to publish quarterly gross domestic product (GDP) data, including five years of historical GDP figures, according to a previous announcement from the oracle provider.
However, Pyth anticipates adding support for more government economic data sets in the future.
Magazine: Can blockchain solve its oracle problem?
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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