Supra, Google Cloud in Partnership to Enhance Financial Market Data Feed
Supra, a company that provides secure, scalable oracles for dApps, has announced that it is partnering with Google Cloud to provide real-time, accurate price feeds to financial markets on the Web2 and Web3. Supra says that the partnership will enable developers of decentralised applications (dApps) in the financial sector to create and deploy them faster and experience lower latency.
A case for the partnership
High latency is one of the key limitations to efficient trading because it typically leads to the execution of trades at prices that may not be favourable to investors. When there is a delay in the relaying of the price of an asset in an environment where the price changes every second, traders end up making decisions based on stale data.
In an increasingly competitive business world, every fraction of a second counts, especially when it comes to trading. Using Supra’s oracle technology, dApps can access real-world data from a wide range of sources, such as cryptocurrency exchanges, FX markets, stock markets, and sporting events. This makes it easier for developers to create dApps that can give users an edge in the market.
As a result of this collaboration, Supra will avail its Oracle technology on several decentralised financial markets. By leveraging Google Cloud’s infrastructure and expertise, Supra will give dApps access to real-time price data from multiple exchanges, OTC markets, and data providers.
Supra says that having access to real-time price data from multiple markets will allow dApp developers to create more robust and efficient decentralised financial applications. This will allow dApp developers to create trading apps that more closely reflect reality, thanks to a higher level of reliability and efficiency. This, in turn, will benefit users in Web2 and Web3 financial markets.
Short-term and long-term focus
For a start, the partnership will concentrate on supplying dApps with price data from major exchanges, including Binance, Coinbase, Gate, Gemini, OKX, and Kraken. Supra will utilise Google Cloud’s Pub/Sub service will supply financial dApps with real-time price feed, with a high level of reliability and scalability. This will enable dApp developers to build dApps that can respond to market fluctuations in near-real time with little lag.
The partnership will include new features in the future, which will involve the inclusion of order book data and historical price data. As a result, dApp developers will have greater freedom to create new types of applications, such as market-making and arbitrage platforms.