UK based neobank Revolut has announced that it is expanding its partnership with Pyth Network. Revolut stated that it is joining 100+ data publishers on the Pyth Network, delivering digital asset price data to power more than 80 blockchain ecosystems. By becoming a data provider, Revolut said it is enhancing Pyth’s real-time price feeds, ensuring their resilience and security.
As a leading blockchain oracle, Pyth brings real-world data sets to blockchain ecosystems to secure hundreds of user applications — such as Kamino Finance, Drift Protocol, and Ondo Finance. To make this possible, Pyth requires reliable data sets. By offering first-party price data, Revolut aims to help make the next generation of finance apps in the DeFi (decentralised finance) ecosystem as robust as possible for our customers and Web3 users alike.
Why this partnership matters
The financial landscape is evolving rapidly, with traditional finance (TradFi) rapidly converging with DeFi. Revolut said that its partnership with the Pyth Network helps customers get the best data, not only within the Revolut exchange, but also across the wider DeFi market.
Mazen ElJundi, Global Business Head of Crypto at Revolut said,
“Our partnership with Pyth is an important milestone in the journey to modernise finance. As DeFi continues to gain traction, Pyth’s position as the backbone of the industry will help Revolut contribute to this transformation. By working with Pyth to provide our reliable market data to applications, Revolut can influence digital economies by ensuring developers and users have access to the precise, real-time information they need.”
Mike Cahill, CEO of Douro Labs and contributor to the Pyth Network said,
“Pyth’s collaboration with Revolut is part of a larger trend we’re seeing, where traditional financial institutions, trusted by millions of customers globally, are recognising the value of decentralised finance and digital assets. Together, we are driving the future of finance, where transparent and reliable data empowers the next generation of financial applications.”
Revolut added that it has always been committed to making the financial experience better for its customers. By working with Pyth, Revolut is helping make finance easier to access, more open, and enable decentralised applications to tap into accurate data from reliable sources.
