Revolut and Pyth Network Collaborate to Enhance DeFi

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by Giorgi Kostiuk

2 years ago

Revolut, the UK's digital banking giant, has officially partnered with the Pyth Network to provide price data to the blockchain-based oracle network. This collaboration is a significant step towards integrating traditional finance with decentralized finance.

Partnership between Revolut and Pyth Network

The partnership between the Financial Conduct Authority regulated neobank and Pyth Network means Revolut will supply its price data to the Oracle network, benefiting the growing decentralized finance ecosystem.

Growing Convergence of Traditional and Decentralized Finance

The increasing adoption of blockchain technology in fintech is driving the convergence of traditional and decentralized finance. The Pyth Network's oracle solution plays a key role in this evolution, as the platform seeks to expand alongside industry giants like Chainlink.

Pyth’s collaboration with Revolut is part of a larger trend we’re seeing, where traditional banking institutions, trusted by millions of customers globally, are recognizing the value of decentralized finance and digital assets. Together, we are driving the future of finance, where transparent and reliable data empowers the next generation of financial applications.Mike Cahill

Market Impact and the Future of Finance

As a data publisher on Pyth Network, Revolut will contribute to enhancing the security and reliability of decentralized applications. Pyth will leverage Revolut’s market expertise to deliver accurate price feeds to dApps. For Revolut, the partnership marks a major step in expanding its presence in the web3 space.

The partnership between Revolut and Pyth Network strengthens the connection between traditional and decentralized finance, setting new standards for financial data. By collaborating, both players are driving the future development of the financial industry.

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