Digital banking giant Revolut joins Pyth Network

Revolut, the UK digital banking giant, is the latest company to join the Pyth network as a data publisher.

THE partnership between the neobank regulated by the Financial Conduct Authority and Pyth Network (PYTH) means that Revolut will now bring its price data to the blockchain-based Oracle network, benefiting the growing decentralized finance ecosystem.

Revolut’s integration with Pyth comes as the gap between traditional finance and DeFi continues to narrow.

This trend has gained traction amid the growing adoption of blockchain technology in financial technology and associated ecosystems. Pyth Network’s Oracle solution plays a key role in this evolution as the platform looks to grow alongside industry giant Chainlink (LINK). Both Oracle networks aim to provide Web3 users and institutions with increased transparency and reliability.

Mike Cahill, CEO of Duoro Labs and Pyth Network contributor, highlighted the growing recognition of digital assets and DeFi within traditional finance.

“Python’s collaboration with Revolut is part of a broader trend we are seeing, in which traditional banking institutions, trusted by millions of customers around the world, are recognizing the value of decentralized finance and digital assets. Together, we are shaping the future of finance, where transparent and trusted data enables the next generation of financial applications,” he said.

As a data publisher on Pyth Network, Revolut will contribute to Pyth price feeds, improving the security and reliability of decentralized applications. In turn, Pyth will leverage Revolut’s market expertise to provide accurate and reliable pricing information to dApps. For Revolut, this partnership marks an important step in expanding its presence in the web3 space.

Launched in 2015, Revolut has more than 45 million users and offers its services in 200 countries. Meanwhile, the Pyth network continues to grow, with over 120 data providers, over 590 price feeds, and integration into 450 dApps.