Pyth, a decentralized data infrastructure provider, has announced a partnership with fintech company Revolut to incorporate banking data into decentralized finance (DeFi).
Integration of Financial Data
Revolut will publish its digital asset price data on Pyth Price Feeds, enabling DeFi developers to incorporate asset quote and trade data. This move highlights Revolut's efforts to expand its crypto offerings through the partnership with Pyth, providing access to over 500 real-time data feeds.
Pyth vs. Chainlink
While comparisons between data providers frequently arise, Pyth's representatives emphasize broader goals. “Our aim is to accelerate DeFi development to surpass the traditional financial system,” stated Mike Cahill, CEO of Douro Labs.
VanEck Pyth ETN Listing
On November 5, 2024, VanEck announced the listing of an exchange-traded note (ETN) in Europe linked to the PYTH token. This instrument is available to investors in 15 EU countries and is fully collateralized with physical PYTH tokens.
The integration between Pyth and Revolut opens new opportunities for DeFi developers, strengthening the ties between traditional and decentralized financial systems.