Tech firm Certus One buys Quant Trading group for undisclosed amount

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Tech firm Certus One buys Quant Trading group for undisclosed amount

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.