In markets, milliseconds decide billions. Legacy data vendors still sell downstream, delayed, repackaged feeds. But the firms that actually set prices already exist: banks, exchanges, and trading desks. What if institutions could plug directly into them? That’s what Pyth Pro unlocks. > @PythNetwork has already become the #1 oracle in DeFi with over $1.6T in cumulative transaction volume, 2,000+ price feeds, and integrations with 600+ protocols across 100+ blockchains. > Now, they are moving into Phase 2, targeting the $50B+ institutional market data industry, which is currently dominated by Bloomberg, Refinitiv, and S&P. 1️⃣ The key new product here is Pyth Pro. It is a subscription product for institutions. Data is sourced directly from banks, exchanges, market makers, and trading firms, not intermediaries or resellers. Provides upstream, institutional-grade prices closer to true market activity. Instead of stitching together fragmented data from multiple venues and geographies, institutions can access everything through a unified Pyth network. 2️⃣ Why it matters: → Gives institutions a single source of truth for financial data. → Reduces reliance on middlemen → lowers costs & vendor sprawl. → Delivers faster updates (milliseconds) suitable for high-performance trading. → Subscription revenue flows back to the Pyth DAO, reinforcing the ecosystem. 3️⃣ Differentiators Compared to both legacy providers (Bloomberg/Reuters) and crypto-native competitors (Chainlink), Pyth stands out because: → Proprietary Data: From Jane Street, Jump, DRW, Virtu, Two Sigma, Cboe, LMAX, etc., not redistributed. → Cross-Asset Coverage: Crypto, equities, FX, commodities, interest rates. → Low Latency: Millisecond-level updates. → Web3-native Design: zk-verifiable aggregation, staking/slashing for accuracy. 4️⃣ Phase 2: The Institutional Play Pyth is expanding into institutional workflows, risk models, clearing and settlement, compliance, accounting, trading terminals, and historical research. Market cap comparison: - Bloomberg, Refinitiv, and S&P: $50B/year - Pyth: ~$900M - Chainlink: $15B If institutions adopt Pyth Pro, the gap could close rapidly. Pyth might start replacing Bloomberg terminals for many use cases and become the backbone of institutional finance data, much like it already is in DeFi.