Pyth Partners with xStocks, a U.S. Stock Tokenization Platform
1️⃣ @PythNetwork is not just a simple Web3 oracle
- Partnership established with Solana-based U.S. stock tokenization platform @xStocksFi
- Real-time stock prices will be provided through Pyth's price transmission system, Express Relay
2️⃣ Introduction to xStocks
- Tokenizes NASDAQ and NYSE stocks on the Solana chain
- 24/7 trading available based on 1:1 backup of actual stocks
Going beyond simply putting stocks on the blockchain, it is getting closer to actual financial utility. The trend of using stocks as collateral for loans and providing liquidity in DeFi is becoming more pronounced.
3️⃣ Alliance lineup
- CEX: Kraken, Bybit, Bitget
- Chains: Solana, BNB Chain
- DeFi: Jupiter, Kamino, Raydium
- Payment/Infrastructure: AlchemyPay, Chainlink, and now Pyth as the price oracle
In this market trend, Pyth's high-speed oracle infrastructure is likely to play an essential role. It seems we should keep a close eye on DeFi related to tokenized assets, represented by xStocks.
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