Revolut Partners with Pyth Network as a Data Publisher

The collaboration allows digital banking firm Revolut to contribute its price data to the decentralized finance (DeFi) ecosystem.

Since its launch in 2015, Revolut has challenged traditional banks with services ranging from international money transfers to cryptocurrency trading. 

The company now has over 45 million users across 200 countries.

Through its partnership with Pyth Network, Revolut is extending its reach into the DeFi sector, providing price data to a broad array of decentralized applications (dApps).

As a publisher for the Pyth oracle network, Revolut will provide its proprietary digital asset price data to Pyth Price Feeds.

This is expected to “secure the operations of hundreds of downstream dApplications (dApps) and advance the growth of the Web3 capital markets,” according to Pyth. 

“Revolut’s market expertise and digital asset technologies enable them to help secure the crypto data offerings of Pyth Price Feeds, the most demanded asset feeds by application developers building the future of finance,” explained the company. 

They added that in turn, Pyth Network enables traditional and Web2 players like Revolut to expand their crypto and digital asset operations.

Mazen Eljundi, Global Business Head of Crypto at Revolut, stated: “As DeFi continues to gain traction, Pyth’s position as the backbone of the industry will help Revolut capitalize on 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.”