Pyth Network, a blockchain oracle and market data provider, has launched new pricing indexes for US stocks and commodities, a move aimed at supporting around-the-clock trading products across crypto exchanges.
The company announced Wednesday that Coinbase, Kraken, dYdX and Nado are already using the indexes to power new trading markets.
According to Pyth, the indexes are designed for perpetual futures, tokenized assets, prediction markets, derivatives settlement and exchange-traded product benchmarking, providing continuous reference prices even when traditional financial markets are closed.
The initial lineup includes major US stocks such as Nvidia, Tesla, Apple, Circle and Strategy, as well as gold, silver, West Texas Intermediate (WTI) crude and Brent crude.
Pyth also partnered with MarketVector, an index provider owned by VanEck, to develop thematic equity index futures covering sectors and themes including artificial intelligence, defense, technology and China.
The launch expands Pyth’s push into institutional market data services. Earlier this year, the blockchain oracle provider introduced a platform that allows financial institutions to publish and monetize market data across blockchain networks.
Related: RedStone launches settlement layer to address RWA liquidity gap in DeFi lending
Continuous pricing could become critical infrastructure for tokenized assets
The launch reflects a broader push toward around-the-clock trading of real-world assets on blockchain rails. Platforms offering tokenized stocks, commodities exposure and perpetual futures require reference prices even when traditional exchanges in New York or London are closed.
That presents a challenge for products tracking assets such as Nvidia shares or Brent crude, whose primary markets operate on fixed schedules, creating demand for continuous pricing infrastructure.
The market for tokenized RWAs, excluding stablecoins. Source: RWA.xyz
The shift comes as tokenized real-world asset (RWA) markets continue to expand, led by tokenized stocks and commodities. Binance Research reported this week that the tokenized stocks sector grew 422% year over year, making it the fastest-growing segment of the RWA market.
Tokenized precious metals also gained traction, with the market expanding 39% over the same period, much of that growth occurring earlier in the year.
Tokenized stocks, commodities and real estate experienced significant growth over the past year. Source: Binance Research
Related: Crypto Biz: Crypto infrastructure spending rises as ETF appetite cools