Pyth Network, a blockchain oracle provider, is launching a platform for financial companies. It will allow them to publish and monetize market data across multiple blockchain networks.
The new service is called Pyth Data Marketplace. At launch, it will support data on the currency market, precious metals, and oil swaps. Providers retain full control over which data they transmit.
Seven institutional providers will join the platform at launch. Among them are the exchange Euronext, the company Exchange Data International, asset manager Fidelity Investments, OTC Markets Group, Singapore Exchange FX and the trading platform Tradeweb.
Judging by this launch, the financial data market is starting to shift. Previously, access to quality information was held by a few major players who could easily dictate prices.
Pyth Challenges Traditional Data Providers
The Pyth model works differently from classic oracles. Users pay only for the data they actually use. In the traditional system, you have to buy entire packages, even if you don’t need part of the information.
According to Douro Labs, this can significantly reduce costs for clients.
Currently, the financial data market is valued at about $50 billion, and most of it is controlled by a few large companies. James spoke about this at the Consensus 2025 conference. Now, blockchain solutions like Pyth and Chainlink are starting to disrupt this model.
“Such providers have almost no competition in traditional finance, so they fully control the prices,” he noted.
Banks, hedge funds, and trading companies are forced to buy this data, including due to regulatory requirements.
Market share of blockchain oracle providers. Source: DeFiLlama
In August 2025, the US Department of Commerce selected Pyth and Chainlink to publish economic data on the blockchain.
Initially, Pyth was tasked with publishing quarterly GDP data, including statistics for the past five years.
In the future, the project plans to expand the list and add other government economic indicators.
What This Changes for the Data Market
If the Pyth model takes hold, the financial data market could change dramatically. Right now, access to quality quotes and analytics remains expensive and limited. Major providers have spent decades building closed infrastructure, where the price for data often does not match its real value.
Here, blockchain changes not so much the technology as the approach itself. Previously, data was sold in packages, and you often had to overpay for what you didn’t actually use. Now the logic is different — you take exactly what you need.
Because of this, those who previously couldn’t afford such costs are starting to enter the game. Small teams, startups, developers. For them, this is critical.
At the same time, the balance of power itself is changing. If data can be posted directly, the role of intermediaries is no longer so essential. This gradually undermines the old model, where everything depended on a few major providers.
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There’s another point that’s often underestimated — transparency. When data is on the blockchain, it’s easier to verify. You can see where it came from and how it was updated. For a market where money is tied to numbers, this is important.
But you shouldn’t expect a sharp turnaround. Banks and funds are still sitting on old infrastructure, plus there are regulatory requirements. No one will move away from this quickly.
It’s more likely to be a gradual process. If such solutions start gaining traction in DeFi and Web3, the pressure on traditional players will increase. And then the market itself will begin to restructure.
