Digital banking Revolut joins Pyth Network

Revolut, the prominent U.K.-based digital banking platform, has officially joined the Pyth Network as a data publisher, marking a significant milestone in the evolving relationship between traditional finance and decentralized finance (DeFi). This new partnership enables Revolut to contribute its price data to Pyth’s blockchain-based oracle network, thereby enhancing the accuracy and reliability of data available to decentralized applications (dApps) within the DeFi ecosystem.

As the gap between traditional finance and DeFi narrows, Revolut’s collaboration with Pyth reflects the growing adoption of blockchain technology across the financial sector. By becoming a data publisher, Revolut will provide crucial price feeds to the network, which will be leveraged to improve the security and reliability of decentralized financial applications. In turn, Pyth Network will benefit from Revolut’s extensive market expertise, ensuring that dApps and institutions have access to highly accurate and dependable price data.

Mike Cahill, CEO of Duoro Labs and a key contributor to the Pyth Network, commented on the significance of this collaboration, emphasizing the increasing recognition of digital assets and DeFi within traditional finance. He noted that this trend is helping to shape the future of finance, where transparency and reliable data are key drivers for the next generation of financial applications.

This partnership comes at a time when decentralized finance continues to gain momentum, and Revolut, with its 45 million users and services available in over 200 countries, is looking to expand its presence in the growing web3 space. The Pyth Network, which already has over 120 data providers and more than 590 price feeds, is positioning itself alongside Chainlink as a major player in the blockchain-based oracle space, enabling enhanced transparency and reliability for web3 users and institutions alike.