Quant Shop Jump Trading Buys Blockchain Firm Certus One
(Bloomberg) -- Quant firm Jump Trading Group has acquired blockchain-engineering company Certus One for an undisclosed amount.
The move is the latest step into decentralized finance for the closely held quantitative trading house, which in April announced Pyth, a network that blasts out up-to-the-millisecond price updates on stocks, traditional currencies and cryptocurrencies via the blockchain.
Certus One offers infrastructure services for proof-of-stake blockchains and has been an active participant in decentralized networks including Cosmos, Terra, Solana and Ethereum 2.0, according to a statement. It was involved in the launch of Wormhole, the first bi-directional bridge between Ethereum and Solana.
As part of the acquisition Hendrik Hofstadt, Certus One’s chief executive officer and co-founder, has been appointed director of special projects in Jump Trading’s Digital Assets group. He will work with the team “to accelerate the development of a new wave of financial infrastructure,” the statement said.
High-frequency trading firms Virtu Financial Inc. and GTS are among companies using the Pyth network, which updates prices about every 400 milliseconds.
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