ORCA Alliance, an open banking platform that aims to build a bridge between crypto and fiat services, has recently announced a tool that is being developed for the sole purpose of helping consumers better track all their crypto assets – whether this implies in one or multiple accounts. The tool itself has been named “PYGMY” and will be open to access with no fees attached.
As for how PYGMY works, it appears that the connection between one’s crypto accounts and PYGMY relies heavily on API access. Upon approval, consumers can then evaluate their crypto holdings and will receive automatic updates every time one trades.
CEO of ORCA Alliance, Natan Avidan appears to be confident about PYGMY because of its uniqueness. He explicitly shared that he also had several accounts,
“but monitoring asset values prove somewhat challenging. There are no useful tools out there. Up until now that is.”
Based on existing information, it appears that the PYGMY is compatible for use across the top 20 crypto exchanges. When it comes to its actual release, ORCA’s System Architect, Sigitas Saulevicius believes it is not that simple.
Saulevicius elaborated by saying that:
“The Initial release is sensitive though, you always want everything to work perfectly […] That’s why we’re developing ORCA platform through a 5-phase roadmap – so we can iterate, improve and pivot in between to build something that’s useful.”
In terms of the developing phase, it appears that the PYGMY has come a long way, as it just completed its pre-alpha phase last week. After some more tests and the confirmation that there aren’t any issues that need handling, PYGMY will officially be released to the mass population.
To find out more on how to register for PYGMY, go to: orcasurvey.typeform.com/to/ZC3V7F