TOKYO--(BUSINESS WIRE)--bitbank, inc. (HQ: Tokyo Japan CEO: Noriyuki Hirosue), one of the largest and most trusted cryptocurrency exchanges in Japan, is proud to announce that we are joining the Pyth network (HQ: Zug, Switzerland) and will deliver our institutional grade cryptocurrency market data on-chain to power the world of DeFi!
Pyth network is a next generation oracle bringing accurate, time sensitive real world market data across Crypto, Equities, FX and Commodities to DeFi. The network sources price data from 60+ of the best exchanges, trading firms and crypto companies, and aggregates it on-chain, resulting in high quality and reliable price feeds for off- and on- chain consumption.
Noriyuki Hirosue, founder and CEO of bitbank, stated: "Timely and transparent data is the cornerstone of creating a thriving ecosystem in the financial space. We believe that the Pyth network has the potential to deliver a dependable market data infrastructure in DeFi, and are looking forward to taking part in the initiative."
bitbank is a certified crypto currency exchange in Japan* serving more than 550,000 users and 30 available trading pairs, with approximately 20~30% spot-volume share domestically. Clients of bitbank can trade cryptocurrencies in spot markets on exchange and on OTC basis. bitbank has also announced a partnership with one of the largest specialized trust bank groups in Japan, Mitsui Sumitomo Trust Holdings, Inc. to establish a certified digital asset custodian company in Japan.
bitbank traded an average monthly volume of 3.7 billion yen from 2018, and 7.2 billion yen during 2021 with 50~70% volume share for altcoins among Japanese crypto exchanges. bitbank is ISMS certified, and abiding by every financial regulation standard prescribed by the Japanese FSA.
*Kanto Local Finance Bureau (Crypto asset exchange) licensed registration No. 00004
About the Pyth Network
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