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Point of Focus
- Pyth has been approved to distribute Nasdaq Basic.
- The feed includes top-of-book quotes and recent trades.
- Access requires a direct Nasdaq license and prior written approval.
Pyth has been approved as an external distributor of Nasdaq Basic, a real-time US equities data product.
The agreement gives eligible clients a route to receive Nasdaq stock quotes and trades through Pyth’s Data Marketplace, which serves software and blockchain-native applications.
The announcement does not make Nasdaq’s data freely available onchain. Clients must license Nasdaq Basic directly from Nasdaq and obtain its prior written approval before consuming the feed through Pyth.
What data will Pyth distribute?
Nasdaq Basic provides real-time, top-of-book market data for US equities. It includes Nasdaq’s best bid and offer, the sizes available at those prices, and last-sale prices and sizes from Nasdaq’s US venues and trades reported to the FINRA/Nasdaq Trade Reporting Facility.
The product covers all US exchange-listed securities, including those listed on exchanges other than Nasdaq. It also includes Nasdaq’s Official Opening Price and Official Closing Price, which market participants use as reference prices at the start and end of a trading day.
BREAKING: Pyth is now an external distributor of Nasdaq Basic.@Nasdaq's real-time quote and trade product for U.S. equities, distributed through the Pyth Data Marketplace 🧵 pic.twitter.com/1Xfg7mmYdE
— Pyth Network 🔮 (@PythNetwork) September 22, 2026
Pyth will offer the feed through its Data Marketplace. According to the company, the marketplace gives data publishers a single distribution channel for software and blockchain-native destinations while preserving attribution and commercial control over their products.
That distinction matters for prospective users. Approval to distribute Nasdaq Basic expands the ways licensed applications can receive the data; it does not grant every developer permission to copy, publish, or use the feed without an agreement.
Why does the approval matter for blockchain applications?
Reliable stock prices are a basic input for financial software. An application that references US equities needs data it can obtain under clear licensing terms, particularly if prices affect trading or the valuation of positions.
Pyth’s new distribution role could make Nasdaq Basic accessible to approved blockchain-native clients through a channel designed for that type of application. It also gives Nasdaq another way to reach financial products built beyond conventional brokerage systems.
Nasdaq using Pyth to distribute Nasdaq data was NOT on my 2026 bingo card
But here we are.
Nasdaq Basic is coming to the Pyth Data Marketplace
This means meaning developers can access Nasdaq’s real-time US equity quotes + trades through Pyth under a REAL Nasdaq license.
— StarPlatinum (@StarPlatinum_) September 22, 2026
“More of the market runs on software every year, and that means data has to reach a wider and more varied set of applications than ever before,” Michael Cahill, a Pyth core contributor, said in the announcement.
The companies have described a distribution arrangement rather than announcing a specific new onchain stock product using the feed. Its practical impact will depend on which clients secure licenses and how they use the data.
How it fits Pyth’s data strategy
Pyth positions its Data Marketplace as a way for institutions to supply proprietary data sets to applications that need them. Nasdaq Basic adds a well-established US equities product to that offering.
For Nasdaq, the arrangement creates another route to software-based financial services while retaining control over who receives its market data.
PythNetwork is now an approved external distributor of Nasdaq Basic!
Software and Web3-native applications can now access real-time U.S. equity quote and trade data through a single distribution channel via the Pyth Data Marketplace.
What Nasdaq Basic brings to Pyth:
— Captain GM (@g13m) September 22, 2026
For Pyth, it strengthens its pitch as a distributor of data from traditional markets to newer applications.
The next measure of the agreement’s reach will be adoption: which approved clients take up the feed and whether they build applications that use Nasdaq’s data in blockchain-native settings.
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