Revolut has joined Pyth Network as a data publisher to support trusted DeFi price feeds. This partnership uses blockchain technology to bridge traditional finance and DeFi. Revolut serves 45 million users worldwide and the partnership with Pyth expands the Web3 financial ecosystem.
Revolut, the UK’s leading digital banking platform, has partnered with Pyth Network to become the latest data publisher.
This strategic move highlights the growing convergence of traditional finance and decentralized finance (DeFi) as blockchain technology gains momentum across the financial sector.
Revolut expands into the Web3 ecosystem
Revolut is regulated by the UK Financial Conduct Authority and is known for its innovative approach to banking and financial services. Revolut joins Pyth Network, a blockchain-based oracle solution to provide pricing data to enhance the reliability and security of decentralized applications (dApps).
This collaboration marks an important step in Revolut's expansion into the Web3 ecosystem.
Pyth Network integrates price feeds from 120+ data providers, supports 450+ dApps, and aims to provide DeFi projects with transparent and reliable data.
Pyth’s partnership with Revolut Digital Bank leverages the bank’s extensive market expertise and improves the accuracy of Pyth’s price feed. This strengthens the infrastructure for emerging financial applications where reliable data is critical.
Mike Cahill, CEO of Duoro Labs and Pyth Network contributor, emphasized the importance of bridging traditional and decentralized finance.
“We are witnessing a pivotal moment in time when established financial institutions like Revolut recognize the value of digital assets and DeFi. are shaping the future of enabling financial innovation,” said Cahill.
Since launching in 2015, Revolut has grown rapidly, serving over 45 million users across 200 countries and offering a wide range of financial services. The partnership with Pyth Network underlines Revolut’s commitment to deploying cutting-edge technology to remain at the forefront of financial innovation.
As DeFi continues to evolve, such partnerships are expected to play an important role in promoting trust and accessibility. By integrating with Pyth Network, Revolut not only strengthens the DeFi ecosystem but also strengthens its position as a leader in the digital banking space.
