Ideal, a US-based
technology provider company, has announced the launch of its crypto analytics
application programming interface (API), Impact API, using Pyth Network’s
real-time on-chain market data.
By using the Pyth
Network, Impact API provides cryptocurrency trading companies with
institutional-grade analytics and complete transparency on their profitability and
transaction costs.
Ideal s decision
intelligence solutions help to turn data analytics into clear actions for trading
success, and, therefore, it provides traders in traditional finance and cryptocurrency
markets with performance insights that help them better understand their true
execution costs and enhance their trading decisions. Impact API helps to bring transparency
on the crypto transactions, a market where costs and spreads are mostly opaque.
John Crouch, the Ideal
CEO, said: “The high-quality, real-time market
data provided by the Pyth Network opens up a world of opportunity for crypto
trading firms. We are thrilled to build upon Pyth’s innovation with our
plug-and-play analytics. Our Impact API uses Pyth’s data to instantly calculate
market impact costs and reveal what spreads traders are actually paying. We’ve
seen cases where crypto spreads are 10 to 100 times higher than they would be
in traditional markets. In the coming months, we’ll expand the range of
available market data sources and add new analytics functionality.”
Adding to that, Michael Cahill, the Director at Pyth Data Association, stated: “As the Pyth ecosystem continues to gain momentum with over 40
data providers contributing real-time pricing, and over 120 projects using the
oracle, we are thrilled to see Ideal building advanced analytics using Pyth
Network data. With our network of the world’s most prominent trading firms,
several regulated exchanges and foundational crypto companies, we are proud to
make financial data freely accessible to all. Ideal shares our desire to bring
greater transparency and insight to both crypto and traditional markets.”
Financial
Institutions Are Embracing APIs
The announcement by
Ideal comes at a time when the number of API-led
financial services companies continue
to proliferate around the world. Fintechs such as Plaid, Tink, Belvo and
Truelayer are providing their API-related services in the US, Europe, Latin
America and the UK, respectively. These firms offer developer and engineering tools
that reduce the operational and technical effort needed for apps to connect to
their users’ financial accounts.
The use of APIs is
making it possible for other firms to integrate what are otherwise complex
services to develop from scratch simply by adding in a few lines of code. Financial
infrastructure companies are enabling developers and firms to innovate around services
such as wealth management, insurance, personal finance, lending and payments.
Ideal, a US-based
technology provider company, has announced the launch of its crypto analytics
application programming interface (API), Impact API, using Pyth Network’s
real-time on-chain market data.
By using the Pyth
Network, Impact API provides cryptocurrency trading companies with
institutional-grade analytics and complete transparency on their profitability and
transaction costs.
Ideal s decision
intelligence solutions help to turn data analytics into clear actions for trading
success, and, therefore, it provides traders in traditional finance and cryptocurrency
markets with performance insights that help them better understand their true
execution costs and enhance their trading decisions. Impact API helps to bring transparency
on the crypto transactions, a market where costs and spreads are mostly opaque.
John Crouch, the Ideal
CEO, said: “The high-quality, real-time market
data provided by the Pyth Network opens up a world of opportunity for crypto
trading firms. We are thrilled to build upon Pyth’s innovation with our
plug-and-play analytics. Our Impact API uses Pyth’s data to instantly calculate
market impact costs and reveal what spreads traders are actually paying. We’ve
seen cases where crypto spreads are 10 to 100 times higher than they would be
in traditional markets. In the coming months, we’ll expand the range of
available market data sources and add new analytics functionality.”
Adding to that, Michael Cahill, the Director at Pyth Data Association, stated: “As the Pyth ecosystem continues to gain momentum with over 40
data providers contributing real-time pricing, and over 120 projects using the
oracle, we are thrilled to see Ideal building advanced analytics using Pyth
Network data. With our network of the world’s most prominent trading firms,
several regulated exchanges and foundational crypto companies, we are proud to
make financial data freely accessible to all. Ideal shares our desire to bring
greater transparency and insight to both crypto and traditional markets.”
Financial
Institutions Are Embracing APIs
The announcement by
Ideal comes at a time when the number of API-led
financial services companies continue
to proliferate around the world. Fintechs such as Plaid, Tink, Belvo and
Truelayer are providing their API-related services in the US, Europe, Latin
America and the UK, respectively. These firms offer developer and engineering tools
that reduce the operational and technical effort needed for apps to connect to
their users’ financial accounts.
The use of APIs is
making it possible for other firms to integrate what are otherwise complex
services to develop from scratch simply by adding in a few lines of code. Financial
infrastructure companies are enabling developers and firms to innovate around services
such as wealth management, insurance, personal finance, lending and payments.