Portofino Technologies, a crypto startup specializing in market making, token services, and Web3 investments, has joined Pyth Network as a new data provider community, according to the info shared with Finbold on April 10.
Portofino Technologies brings a unique brand of expertise to the rapidly expanding Pyth Network, offering proprietary data on cryptocurrencies, bolstering the Pyth digital asset price feed coverage, and aligning with its overarching mission of furnishing dependable, real-time access to price data for global blockchain developers.
What is Portofino Technologies?
Based in Switzerland, Portofino Technologies operates as a market maker with over 25 employees stationed in London and Zug.
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The company stands out for its proprietary market-making technology used to navigate centralized, decentralized, and over-the-counter digital asset markets.
Additionally, Portofino offers token services and treasury management to Web3 companies.
Leo Lancia, Portofino Technologies CEO and Co-Founder, expressed enthusiasm about the new partnership, stating:
“We are excited to collaborate with Pyth Network, and the team on its journey as a decentralized data provider. We look forward to leveraging our in-house proprietary market making technology and experience to contribute to the growth of the Pyth ecosystem.”
– Leo Lancia, Portofino Technologies CEO and Co-Founder
Shane O’Callaghan, Global Head of Business Development at Portofino Technologies, highlighted the significance of Pyth’s technology in the realm of decentralized finance (DeFi):
“Pyth’s low-latency oracle and innovative data technology will be the foundation and growth of DeFi. We are extremely excited to partner with the Pyth contributors and look forward to enabling our proprietary technology to help contribute to the overall Pyth ecosystem.”
– Shane O’Callaghan, Global Head of Business Development at Portofino Technologies
The growth of the Pyth Network
Pyth continues to make significant strides in the blockchain industry, marking a series of notable achievements.
With its Total Value Secured (TVS) surpassing the $7 billion mark, Pyth solidifies its position as an industry leader.
The platform’s dominance extends across 50+ blockchains, exemplified by its commanding market share on each supported chain.
Adding to its momentum, Pyth welcomes Portofino Technologies to its data provider community.
Portofino Technologies brings with it a wealth of expertise in market making, token services, and Web3 investments, further enhancing Pyth’s comprehensive data coverage.
