back21 Apr 20222 min read
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New Pyth Data Provider: xbullion

We are excited to welcome xbullion, a global network for the settlement of physical gold and silver bullion, to the Pyth Network. xbullion will be contributing its proprietary market data for metals to the network and consuming Pyth crypto stablecoins price feeds.

What is xbullion?

  • xbullion is a global network for the settlement of physical gold and silver bullion. It applies the benefits of blockchain to bring transparency, efficiency, and accessibility to users in order to access the largest bullion marketplaces in the world, and it does so without charging ongoing custody fees.
  • xbullion GOLD and xbullion SILV are tokenized precious metals on the blockchain. Each token is secured by 1 gram of physical gold or silver respectively and is directly owned by the token holder.
  • New tokens are minted to the blockchain upon successful purchase and deposit of bullion in secure vaults. Registered users can purchase new tokens at any time through our partners, with wholesale pricing and deep liquidity. When tokens are redeemed, xbullion is able to ship physical gold bullion to most major cities through an insured courier service.

“As a company focused on digital bullion infrastructure, we’re excited to support the Pyth Network and be a part of this growing DeFi and digital assets community. This partnership recognizes xbullion as a trusted source of market data,” said David Lightfoot, xbullion Chief Executive Officer. “Pyth is one of the leading oracle solutions for latency-sensitive financial data and helps deliver market access to trusted pricing. Bridging the gap between traditional and emergent bullion markets. Our company and missions are a natural fit.”

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

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