UK digital banking giant Revolut becomes a Pyth Network data publisher

Revolut has joined Pyth Network as a data publisher to help dependable DeFi worth feeds.
The partnership bridges conventional finance and DeFi utilizing blockchain expertise.
Revolut serves 45M customers globally and its partnership with Pyth expands its web3 monetary ecosystem.
Revolut, a main digital banking platform within the UK, has partnered with the Pyth Network to turn into its newest data publisher.
This strategic transfer highlights the rising convergence between conventional finance and decentralized finance (DeFi), as blockchain expertise positive aspects traction throughout the monetary sector.
Revolut increasing into the web3 ecosystem
Revolut, regulated by the UK’s Financial Conduct Authority, is famend for its revolutionary method to banking and monetary companies. By becoming a member of the Pyth Network, a blockchain-based oracle answer, Revolut will present worth data to bolster the reliability and safety of decentralized purposes (dApps).
The collaboration marks a vital step in Revolut’s growth into the web3 ecosystem.
The Pyth Network, which integrates worth feeds from over 120 data suppliers and helps greater than 450 dApps, goals to ship clear and reliable data for DeFi tasks.
Pyth’s partnership with Revolut digital financial institution leverages the financial institution’s intensive market experience to boost the accuracy of Pyth’s worth feeds. This, in flip, strengthens the infrastructure for rising monetary purposes, the place dependable data is important.
Mike Cahill, CEO of Duoro Labs and a Pyth Network contributor, emphasised the significance of bridging conventional and decentralized finance.
“We are witnessing a pivotal moment where established financial institutions like Revolut recognize the value of digital assets and DeFi. Together, we are shaping a future where transparent and secure data empowers the next generation of financial innovations,” Cahill acknowledged.
Since its launch in 2015, Revolut has quickly grown to serve over 45 million customers throughout 200 nations, providing a big selection of monetary companies. The partnership with Pyth Network underscores Revolut’s dedication to adopting cutting-edge expertise to stay on the forefront of monetary innovation.
As DeFi continues to evolve, partnerships like this are anticipated to play a essential position in fostering belief and accessibility. By integrating with the Pyth Network, Revolut is just not solely enhancing DeFi ecosystems but in addition reinforcing its place as a chief within the digital banking house.