Quant Shop Jump Trading Buys Blockchain Firm Certus One – Yahoo Finance


(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.

Read more: Virtu Joins Jump Trading, GTS in Decentralized Finance Push

(Updates with more context on Pyth, adds link to Wormhole project details in third paragraph. An earlier version corrected Jump’s name in the headline.)

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