Cboe strengthens its digital assets position with Pyth partnership and ErisX rebrand

Quick Take

  • Major exchange operator and market infrastructure provider Cboe has joined the Pyth network. 
  • It has also rebranded ErisX, a digital assets exchange it acquired this year, to Cboe Digital.

Cboe Global Markets is dipping its toes into decentralized finance by making some real-time pricing available on the Pyth network.

Cboe, which will publish limited derived equities market data for 10 symbols starting in the fourth quarter, is the first major exchange operator to join Pyth, according to a company release. The network, built on the
 Solana blockchain, feeds market data into on-chain projects and protocols. It leverages data from over 70 trusted providers including Jane Street, Virtu Financial and Two Sigma Securities.  

"Our participation in the Pyth network will provide another avenue to broaden customer access to our data and aligns with our strategy to deliver market data to investors around the globe based on how they want to consume their data, whether through direct connectivity methods, the cloud or the blockchain," said Adam Inzirillo, senior vice president and head of North American equities at Cboe. 

The news follows Cboe’s recent acquisition of Eris Digital Holdings, a US-based digital asset spot market and regulated futures exchange and clearing house which Cboe rebranded to Cboe Digital earlier this week. The acquisition has enabled Cboe to strengthen its position in the digital assets market.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

"We believe DeFi has the potential to play an important role in defining the future of our financial markets and we are excited to help support its growth through innovative initiatives like the Pyth network," said Catherine Clay, executive vice president of data and access solutions at Cboe in the release. 

Cboe reported a $460 million write-down on its recent purchase of ErisX during its second-quarter earnings call this year. 


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Kari McMahon is a deals reporter at The Block covering startup fundraises, M&A, FinTech and the VC industry. Prior to joining The Block, Kari covered investing and crypto at Insider and worked as a python software developer for several years. For inquiries or tips, email [email protected]