Akuna Capital Joins Pyth Network as Newest Partner

By July 19, 2021DeFi
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NEW YORK--(BUSINESS WIRE)--Jul 19, 2021--

Akuna Capital, (the “Company”), a leading options market maker specializing in derivatives market making and sophisticated modelling, today announced that it has joined the Pyth network (“the Network”), a decentralized financial market data distribution platform. Akuna will initially contribute its unique crypto asset market data and plans to expand into underlying assets of additional options products as the Pyth network continues to scale.

Further improvements in DeFi require high-fidelity, time-sensitive, real-world data, but historically there has been no way to access such data on-chain. Pyth solves that problem by bringing real-world data on-chain in a tamper-proof environment.

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John Harris, CEO, Akuna Digital Assets, said, “As a leader in developing cutting-edge technology, we believe in the power of DeFi and this next-gen oracle solution that leverages DeFi to distribute precise, real-time market data on a sub-second timescale. We are honored to join the likes of experienced trading firms like Jump, GTS and Virtu as we shape the future of finance and trading together.”

Kanav Kariya, Director of Strategic Initiatives, Digital Assets, Jump Trading Group, commented, “Akuna’s irrefutable strong success in options makes them an important contributor to our ecosystem. As one of the few firms to have successfully entered the options industry at scale in recent years, we are grateful for their support as we enable new market participants and more efficient markets through this powerful piece of infrastructure.”

Akuna trades options on a wide range of products including indices, commodities, currencies, and treasuries. The firm is also very active in the cryptocurrency space, trading spot, futures and options on exchanges and OTC, covering all the major coins. Akuna trades on several US and Asian exchanges and is continuing to rapidly expand trading operations globally.

The network is built on Solana, a high-speed blockchain well-suited for cost and energy efficient receipt and distribution of fast-moving data. The Pyth network also plans to publish market data through all other major blockchains at their fastest block times and expects to make its Mainnet debut imminently.

About Akuna Capital

Founded in Chicago in 2011 with a focus on options market making using its proprietary technology, Akuna now employs over 400 people with offices in Chicago, Sydney, Shanghai and Boston. Akuna has been trading crypto currency since 2017 with teams trading spot, futures and options.

About the Pyth Network

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The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth Network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth Network, please visit pyth.network.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210719005212/en/

CONTACT: Ryan Finn

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY FINANCE SECURITY BANKING OTHER TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE NETWORKS DATA MANAGEMENT OTHER PROFESSIONAL SERVICES

SOURCE: Akuna Capital

Copyright Business Wire 2021.

PUB: 07/19/2021 08:00 AM/DISC: 07/19/2021 08:02 AM

http://www.businesswire.com/news/home/20210719005212/en

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