Quant firm Jump Trading Group has acquired blockchain engineering firm Certus One for an undisclosed amount. The acquisition is the company’s latest move into the firm into decentralized finance space.
What kind of company is Certus One?
Certus One provides infrastructure services for proof-of-stake blockchains and has actively participated in decentralized networks such as Cosmos, Terra, Solana, and Ethereum 2.0. The company was also involved in the launch of Wormhole, the first bidirectional bridge between Ethereum and Solana.
As part of the acquisition, Hendrik Hofstadt, the CEO and co-founder of Certus One, has been appointed Director of Special Projects in Jump Trading’s Digital Assets group. He is going to work together with the team “to accelerate the development of a new wave of financial infrastructure,”
Jump Trading Group is familiar with decentralized finance
It is not the first time Jump Trading has looked at decentralized finance. The quantitative trading firm has launched Pyth Network in April. The project aims to make market data more accessible to developers.
Companies using the Pyth network, which updates prices about every 400 milliseconds, include high-frequency trading firms CMS and Virtu Financial Inc.