financemagnates.com
Revolut has partnered with Pyth Network to contribute its price data to the decentralized finance (DeFi) ecosystem. This collaboration allows Revolut to serve as a data publisher for Pyth, providing trusted price information to market participants.
Revolut Expands Crypto Reach with Pyth
"Our partnership with Pyth is an important milestone in Revolut's journey to modernize finance. As DeFi continues to gain traction, Pyth's position as the backbone of the industry will help Revolut capitalize on this transformation," Mazen Eljundi, Global Business Head of Crypto at Revolut commented.
Founded in 2015, Revolut quickly gained popularity by offering fee-free financial services, including international money transfers and cryptocurrency trading.
Bringing Market Data to DeFi
With over 45 million users in 200 countries, Revolut has become a key player in consumer finance. Its partnership with Pyth marks a shift as traditional financial institutions engage with DeFi technologies to enhance transparency in digital asset markets.
"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.” —Eljundi added.
Revolut, the digital banking giant serving 45M users across 200 countries, just became a Pyth Network data publisher!
— Pyth Network 🔮 (@PythNetwork) January 8, 2025
Real-time price feeds from a fintech giant = better data for builders, more transparency for users.
The future of finance isn't either/or — it's both. 🤝 pic.twitter.com/9KKIMBlyE9
Enhancing Web3 with Partnership
As a publisher for Pyth, Revolut will contribute its digital asset price data to Pyth Price Feeds, supporting decentralized applications (dApps) and Web3 capital markets. This collaboration allows Revolut to expand its digital asset offerings without fully engaging in active trading or committing capital. The partnership also strengthens Pyth's role as a reliable data source, trusted by both Web3 and institutional players.
Revolut’s involvement in the Pyth Network represents the growing convergence of traditional finance and decentralized finance. Through this partnership, Revolut continues to push the boundaries of digital finance while contributing to the transparency and accessibility of the DeFi ecosystem.