The U.S. Department of Commerce is Working with Pyth Network to Verify & Distribute Economic Data Onchain

The U.S. government is officially bringing economic data onchain, and this historic initiative is being made possible by Pyth Network.

After months of close engagement with the Department of Commerce and Secretary of Commerce Howard Lutnick, Pyth is honored to have been selected as a critical component in this initiative. Without question, this marks a critical step forward in the public sector’s embrace of decentralized infrastructure and represents nation-wide validation of Pyth’s role as a trusted provider of secure, transparent, and verifiable data to the blockchain ecosystem.

Secretary Lutnick and the Department of Commerce’s visionary stance on data innovation and willingness to embrace blockchain technology is positioning the U.S. as a world leader in finance. But this is just the first step in a long and high-yielding endeavor to rebuild the data infrastructure of the United States of America.

That’s why Pyth is a perfect choice to bolster the White House’s goals.

With its vast network spanning over 100 blockchains and the 600+ applications that depend on it for trustworthy data, Pyth has quickly become the source of truth for onchain data. Now, as the finance industry and U.S. government continue to push further into the digital frontier, Pyth's distribution is poised to become the primary channel that fuels their growth.

Pyth Network has been optimized to deliver trusted data through its transparent relationship with data publishers and a first-of-its-kind staking model designed to enhance security. The integrity of economic data is essential to global markets, and bringing this data onchain opens up new frontiers for transparency, accessibility, and composability across DeFi, enterprise use cases, and public accountability.

Pyth’s ability to ensure the cryptographic verifiability and immutable publication of official statistics marks a new chapter in how governments can interact with decentralized technology—a milestone set to unlock a new generation of efficiency. Smart contracts will replace paper ones, where onchain data, once verified by Pyth, will be able to secure real world transactions ranging from tokenized securities to new and unimagined innovations.

This wave of efficiency will establish the U.S. as a global leader driving the digital revolution and unleashing new economic power through this transformation.

Finally, through its collaboration with Pyth, the Department of Commerce is doing so much more than launching a one-off data release; it is building the foundation for a strategic working relationship between the Department of Commerce and Pyth Network. Pyth will initially offer quarterly releases of the GDP going back 5 years, and the Pyth Contributors anticipate expanding this initiative to support a broader range of economic datasets. As trust in centralized intermediaries continues to be challenged, this new initiative reflects a deliberate effort by the U.S. government to harness cryptographic tools to increase confidence in public information systems.

Pyth Network’s mission is to bring the price of everything everywhere, and working with the U.S. government is a monumental step toward making that vision a reality. We are grateful for the trust placed in us by the Department of Commerce and look forward to deepening our collaboration in the months and years ahead. As governments and institutions look to modernize their data infrastructure, Pyth is ready to provide the secure, decentralized rails that power the evolutions of digital transparency.