A Catalyst for Collapse
Inflation, FED intervention, Equities vs Commodities and considerations on the mitigation of risk in uncertain times
xbullion, an industry leading digital bullion company, is pleased to announce its integration with the Pyth network, an innovative provider of market data that is built on decentralized blockchain technology, designed to provide a consistent and secure market data source for on-chain smart contracts. Starting in April 2022, xbullion will be contributing its first party precious metals market data onto the oracle through its institutional-grade data infrastructure. xbullion will be delivering quality off-chain market data to power smart contracts and bring transparency to all actors in the commodity space.
The Pyth Network delivers accurate, timely and verifiable market data to decentralized applications on a sub-second timescale. There are now over 50 publishers providing first-party quality data into Pyth across crypto assets, equities, metals and FX. Pyth is rapidly growing and has reached $2.0B in DeFi total value locked which is derived from the exciting projects and protocols consuming Pyth feeds. xbullion is a platform that aims to bring the accessibility of crypto to the broad international base of precious metals investors. They've done this by utilizing blockchain to create a global settlement layer for investment grade bullion, offering access to the largest physical marketplaces in the world without the ongoing custody fees. xbullion GOLD and xbullion SILV tokens are secured by 1 gram of physical gold or silver respectively, with the underlying metals vaulted, insured, audited and redeemable. The tokens each represent direct ownership over the precious metals.
“As a company focused on delivering technology improvements to the commodities sectors, we’re excited to support the Pyth network and be a part of this growing DeFi and digital assets community. This partnership recognises 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. Pyth and xbullion together are able to support bridging the gap between traditional and emergent digital markets. Our company and missions are a natural fit.”
xbullion is a global network for the settlement of commodities, including physical gold and silver bullion, utilizing the benefits of blockchain to bring transparency, efficiency and accessibility for users. Enabling access to the largest bullion marketplaces in the world, without charging ongoing custody fees. xbullion provides best practices around insurance, quality control, storage and auditing, working with world class suppliers to bring you an institutional grade bullion storage solution. Learn more at xbullion.io.
About Bullion Asset Management (BAM)
Bullion Asset Management Services is the management company for xbullion, which specializes in blockchain and tokenization, bringing the 24/7/365 accessibility of blockchain to the broad international base of precious metals, commodities and other stable asset investors. BAM has been able to achieve this through the aggregation of best-in-class suppliers, auditors, custodians, insurers and advisors.
About the Pyth Network
The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the "walled gardens" of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth network, please visit pyth.network.
About the Pyth Data Association
The Pyth Data Association was created in support of the Pyth network, a specialized oracle solution for latency-sensitive financial data that is typically kept behind the "walled gardens" of centralized institutions. The Pyth Data Association is overseen by a board of directors elected by members of the Pyth network.
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