Quant firm Certus One has acquired Quant Trading group for an undisclosed amount.
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 bidirectional bridge between Ethereum and Solana.
As part of the acquisition, Hendrik Hofstadt, Certus One's chief executive officer and co-founder, has been designated to the director of Special Projects in Jump Trading's Digital Asset 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 GTS and Virtu Financial Inc. are among companies using the Pyth Network, which updates prices about every 400 milliseconds.