AMINA Bank to provide price data for Pyth Network’s real-time feeds, increasing the accuracy and efficiency of the price feeds available to users.
Zug, Switzerland, 2 July 2024 — AMINA Bank, a leading Swiss crypto bank, has today announced its strategic partnership with Pyth Network, the premier decentralised financial oracle. AMINA Bank will provide price data for digital assets to the Pyth Network to bolster its real-time price feed, benefiting users across different strands of finance.
AMINA Bank’s partnership with Pyth Network underscores its commitment to innovation and highlights its dedication to improving accessibility of digital assets to the general public. By providing this data, AMINA Bank aims to enhance the accuracy and efficiency of the price feeds offered by Pyth Network, ultimately benefiting users and applications across a variety of financial sectors. This collaboration signifies a further step forward in improving the user experience and accessibility of Web3 applications, further solidifying AMINA’s position as a pioneer in digital finance.
Anes Fific, COO at AMINA Bank commented, “Our partnership with Pyth is an important milestone in AMINA’s dedication to integrate the Web3 world with traditional finance. As these worlds come closer together, AMINA is proud to be at the forefront of this transformation. By working with Pyth to provide our digital asset price data, we can give users in digital finance more robust data and information they need to make informed decisions about DeFi and crypto.”
AMINA Bank’s decision to join Pyth Network represents a clear example of how a regulated entity can play a role in a decentralized oracle network. As the first banking entity to join Pyth Network’s data provider community, AMINA Bank is at the forefront of revolutionising the banking sector’s role in the emerging digital asset landscape at a time when digital assets are moving toward a new level of maturity.
“As Pyth Network expands its on-chain financial price data offerings for smart contract developers, we are pleased to welcome AMINA Bank to the community of data providers. By providing this data, AMINA Bank is able to generate an entirely new revenue stream for their business without incurring significant costs.” said Michael Cahill, CEO of Douro Labs
Established with a mission to provide comprehensive solutions for digital asset trading, investing, and custody, AMINA Bank successfully secured a Swiss banking and securities dealer license since August 2019. With regulated hubs in Switzerland, Abu Dhabi, and Hong Kong, AMINA Bank offers a unique value proposition, combining broad, vertically integrated services with the highest security standards.
About AMINA — Crypto. Banking. Simplified.
Founded in April 2018 and headquartered in Zug, AMINA (formerly SEBA) is a pioneer in the financial industry. In August 2019, AMINA received a Swiss banking and securities dealer license. The broad, vertically integrated spectrum of services, combined with the highest security standards, make AMINA’s value proposition unique. AMINA operates globally from its regulated hubs of Switzerland, Abu Dhabi, and Hong Kong to offer fiat and crypto services to progressive investors, traditional and crypto-native alike, whether individuals, corporates, or institutions.
To learn more about AMINA, visit www.aminagroup.com
About Pyth Network — Smarter Data for Smarter Contracts
First announced in April 2021, the Pyth Network is the largest and fastest-growing first-party financial oracle for real-time asset price data. Pyth delivers over 500 low-latency price feeds across digital assets, FX, ETFs, equities, and commodities to more than 50 blockchain ecosystems, securely and transparently.
The Pyth Network comprises some of the world’s largest exchanges, market makers, and financial services providers, who contribute their proprietary price data to the Pyth oracle for on-chain aggregation and distribution to smart contract applications.
Pyth introduces a pull oracle design which empowers apps to request or pull the latest price update to their native blockchain on demand. The Pyth Network has secured more than $500B in trading volume across hundreds of Web3 and Web2 applications. You can learn more from the Pyth website and documentation.
To learn more about Pyth Network, visit www.pyth.network
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Matt Turner
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