back11 Aug 20211 min read
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New Pyth Data Provider: Bitso

We are thrilled to welcome Bitso, the largest cryptocurrency exchange in Latin America, to the Pyth Network to build the next generation oracle solution that will transform the way market data is used on the blockchain!

Who is Bitso?

  • Bitso is the largest cryptocurrency exchange in Latin America with now regular daily traded volume surpassing $10 million.
  • Founded in 2014, Bitso has now welcomed more than 2.5 million users — with half of them onboarded only during the last year!

Proven Track Record

  • Bitso announced in May 2021 a Series C investment round of $250 million led by Tiger Global making the company valued at $2.2 billion.
  • With now 9 crypto assets available, Bitso has seen its 2021 Q1 transaction volume overtake their whole 2020 performance.
  • Bitso is one of the few crypto exchanges, and the only one in Latin America, to obtain a Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission (GFSC), a sovereign agency that has developed one of the most advanced frameworks for regulating cryptocurrency trading.

Bitso will initially contribute its real-time crypto market data directly on-chain in a sub-second timescale.

“We are elated about the growth of DeFi and crypto that we’ve witnessed this year alone as people in Latin America are utilizing this technology in their everyday lives. Joining the Pyth Network allows us to help DeFi and the crypto ecosystem continue to expand and flourish, and we look forward to our role in bridging the gap between legacy finance and the blockchain.” – Eduardo Arenas, Director of Bitso Alpha

We look forward to further coordinating to establish a digital marketplace of institutional grade, high fidelity financial data to power dApps regardless of their blockchain base.

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