- Revolut partners with Pyth Network to provide DeFi price feeds.
- Blockchain technology bridges traditional finance and DeFi.
- Revolut’s collaboration with Pyth expands its web3 financial ecosystem.
Revolut, a prominent digital banking platform in the UK, recently announced its partnership with the Pyth Network to serve as a data publisher.
This strategic alliance underscores the increasing overlap between traditional finance and decentralized finance (DeFi), as blockchain technology gains momentum in the financial industry.
Revolut’s Venture into the Web3 Ecosystem
Regulated by the UK’s Financial Conduct Authority, Revolut is known for its innovative banking and financial services approach. By joining forces with the Pyth Network, a blockchain-based oracle solution, Revolut aims to enhance the reliability and security of decentralized applications (dApps) by providing price data.
This collaboration marks a significant milestone in Revolut’s expansion into the web3 ecosystem.
The Pyth Network’s Role
The Pyth Network integrates price feeds from 120+ data providers and supports over 450 dApps, ensuring transparent and reliable data for DeFi projects.
Partnering with Revolut digital bank allows Pyth to leverage the bank’s market expertise to improve the accuracy of its price feeds, strengthening the foundation for emerging financial applications.
Industry Insights
Mike Cahill, CEO of Duoro Labs and a Pyth Network contributor, highlights the importance of bridging traditional and decentralized finance for future financial innovations.
As Revolut serves over 45 million users across 200 countries with a range of financial services, its collaboration with Pyth Network showcases the bank’s dedication to adopting cutting-edge technology for financial innovation.
Future Outlook
Partnerships like Revolut and Pyth Network are crucial in building trust and accessibility in the evolving DeFi landscape. By integrating with Pyth, Revolut not only enhances DeFi ecosystems but also solidifies its position as a digital banking leader.
