Pyth Partners with Revolut to Integrate Digital Banking Data into DeFi

Pyth partners with Revolut to integrate digital asset data into DeFi, providing real-time data for developers and decentralized apps.

Pyth, a decentralized data infrastructure provider, has partnered with Revolut, a global digital banking company. Together, this partnership will introduce digital banking data into decentralized finance (DeFi). Revolut will integrate it is digital asset price data into Pyth Price Feeds, which is consumed by DeFi developers.

With over 45 million users spread across 200 countries, Revolut will be adding its data to Pyth’s decentralized network, the company said. Revolut will enable developers to integrate Revolut’s high quality digital asset pricing data into Decentralized Applications (dApps) build on Ethereum to create one network that reflects prices across the most popular assets. This is a step in merging traditional finance with decentralized finance.

This partnership is particularly important, said Mazen Eljundi, Global Business Head of Crypto at Revolut. It is a key moment in our mission to modernize finance, he said. Pyth’s role in the industry will help Revolut leverage this transformation as DeFi continues to grow. Revolut is trying to help developers and users provide real time market data, which is essential for any crypto exchange.

Pyth and Revolut Bring Real-Time Data to the Next Generation of DeFi Apps

By this integration, Revolut, together with supported DEXs, be able to become data publishers for the Pyth oracle network. Supporting operation of many dApps, Pyth will provide its proprietary digital asset price data to the Pyth Price Feeds. In the month of December, Pyth saw TVS of over $15.2 billion. As Revolut grows its crypto offerings such as the Revolut X exchange in the European Economic Area, this partnership is a natural step in that direction. Further closure exists between children’s real finance and the space DeFi.

Pyth Network also had Michael Cahill, CEO and Co Founder of Douro Labs, a core contributor to the Pyth Network speaking on its collaboration. More traditional banks are starting to cotton the decentralized finance value, he noted. This partnership is testament to how more and more traditional finance institutions recognize the potential value in DeFi and digital assets.

This collaboration also makes 500+ real time data feeds available for DeFi developers to consume across digital and traditional asset classes. Pyth’s Price Feeds is used by dApps that rewrite above $1 trillion with change across 2024. It is expected that this partnership will continue to boost growth for decentralized finance. It will also provide real-time, reliable data for the next generation of financial applications.