Pyth Network has launched a new blockchain-based marketplace aimed at changing how financial market data is distributed and sold.
The new platform, called Pyth Data Marketplace, allows institutions to publish and monetize data across blockchain networks while keeping control over what they share.
Pyth framed the launch as a direct challenge to the small group of firms that have long dominated the financial data business.
Pyth launches a new market data platform
Pyth Network announced Thursday the launch of Pyth Data Marketplace, a new distribution engine for institutional financial data. The platform allows financial firms to publish data across blockchains, applications, and other financial platforms.
Pyth said publishers can share anything from economic indicators to proprietary indices while keeping direct control over the underlying data.
As per the company, the launch builds on its work as a provider of institutional market data. Pyth has operated price feeds across crypto and traditional asset classes, including equities, commodities, foreign exchange, and metals.
With the new marketplace, the network is expanding beyond standard price feeds into broader data distribution.
At launch, the marketplace supports datasets for spot FX, precious metals, and crude oil swaps. It also includes reference datasets tied to equities, exchange-traded funds, fixed income, and derivatives. Pyth said the model gives institutions a direct route to distribute data without relying only on traditional channels.
“These institutions recognize the need for a modern distribution model where data comes directly from the source,” noted Mike Cahill, chief executive of Douro Labs and a contributor to Pyth Network. “Our 24/7 global economy needs more than just a price layer. It needs a comprehensive, accessible, and transparent data layer, one we are proud to advance with the launch of Pyth Data Marketplace.”
Major institutions join the marketplace
Pyth said seven new institutional publishers joined the platform at launch. The group includes Euronext, Exchange Data International, Fidelity Investments, OTC Markets Group, Singapore Exchange FX, and Tradeweb.
The announcement mentioned that these firms will publish proprietary market data through the new marketplace.
The company said the move shows growing interest from traditional financial institutions in direct and programmable data distribution. According to Pyth, more than 120 institutions already publish data through its broader network. The new marketplace expands that model by giving data owners a new way to distribute and monetize additional datasets.
In addition, Pyth stated that the marketplace already includes datasets from the US Department of Commerce and Kalshi. It added that more publishers are expected to join over time.
The company presented the platform as part of a longer push to serve as a base layer for market data across digital finance networks. Institutional participants also commented on the launch.
“Euronext FX’s data represents some of the highest-quality institutional pricing available across global currency and metals markets,” stated Nicolas Jegou, chief executive of Euronext FX. “Publishing this data through Pyth marks an important step toward a unified, transparent, and programmable market data standard for modern finance.”
Moreover, Tradeweb also pointed to new uses for blockchain-based data distribution.
“At Tradeweb, we are seeing growing demand for more timely and accessible ETF data,” noted Michael Zaladonis, global head of data products and analytics at Tradeweb.
He added that publishing its iNAVs through Pyth gives the firm a way to explore broader and more programmable access to intraday valuations.
Pyth pushes a pull-based data model
A key part of the launch is Pyth’s pull-based model for market data. Under this approach, customers request and pay for the specific data they need when they need it.
That differs from traditional push-based systems, where users often pay for broader datasets regardless of how much of the information they actually use.
Pyth said this model can lower costs for end users and make access more flexible. Michael James, head of institutional business development at Douro Labs, said the traditional financial data business has long been controlled by a small number of providers. He said those firms have held strong pricing power because many banks, hedge funds, and trading firms rely on the data for compliance and market activity.
Pyth has presented the marketplace as an alternative to that structure. The platform is meant to give publishers more direct access to users while allowing institutions to maintain control over how data is packaged and distributed. The company said publishers keep “full control” over the data they share through the new service.
“Market data has flowed through the hands of a select few for too long,” Cahill stated. “We’re working alongside some of the world’s largest financial institutions to rewrite that model and establish an open data economy, creating a modern market data solution built by and for institutions.”
The launch also adds to the wider competition among blockchain oracle providers. Firms such as Pyth and Chainlink have moved deeper into financial data services as crypto-based products rely more heavily on real-world pricing, economic releases, and reference feeds.
Expansion ties blockchain data to broader finance
Pyth’s new marketplace arrives as the company expands its role in both crypto and traditional finance-linked products.
In August 2025, the US Department of Commerce selected Pyth and Chainlink to publish economic data onchain. Pyth was initially chosen to publish quarterly gross domestic product data along with five years of historical figures.
The network has also gained traction in prediction and event-based markets. Earlier this month, Polymarket expanded into contracts tied to US equities, commodities, and exchange-traded funds using Pyth price feeds as the resolution source.
That rollout added contracts linked to assets such as gold, silver, WTI crude, natural gas, and major US stocks.