Unsustainable costs and opaque pricing have created a major pain point for large financial institutions, Michael James told Cointelegraph.
Michael James, the head of institutional business development at Douro Labs — the company that developed the Pyth high-speed blockchain oracle network — told Cointelegraph that oracle networks like Pyth are disrupting the $50 billion financial data industry that provides critical price information to exchanges, brokerages, trading firms, and other institutional entities.
In an interview at Consensus 2025, the executive said that Pyth Network’s data pull model sets it apart from traditional pricing oracles, allowing customers to pay for data on demand, reducing costs for institutions reliant on real-time market data.
According to the executive, the financial data industry is currently monopolized by around eight major providers that continually raise prices on clients arbitrarily. James added:
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