- Revolut has joined Pyth Network as a knowledge writer to assist dependable DeFi worth feeds.
- The partnership bridges conventional finance and DeFi utilizing blockchain know-how.
- Revolut serves 45M customers globally and its partnership with Pyth expands its web3 monetary ecosystem.
Revolut, a number one digital banking platform within the UK, has partnered with the Pyth Network to grow to be its newest information writer.
This strategic transfer highlights the rising convergence between conventional finance and decentralized finance (DeFi), as blockchain know-how good points traction throughout the monetary sector.
Revolut increasing into the web3 ecosystem
Revolut, regulated by the UK’s Monetary Conduct Authority, is famend for its revolutionary method to banking and monetary providers. By becoming a member of the Pyth Network, a blockchain-based oracle resolution, Revolut will present worth information to bolster the reliability and safety of decentralized functions (dApps).
The collaboration marks a big step in Revolut’s enlargement into the web3 ecosystem.
The Pyth Network, which integrates worth feeds from over 120 information suppliers and helps greater than 450 dApps, goals to ship clear and reliable information for DeFi initiatives.
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 functions, the place dependable information is essential.
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 international locations, providing a variety of monetary providers. The partnership with Pyth Network underscores Revolut’s dedication to adopting cutting-edge know-how to stay on the forefront of monetary innovation.
As DeFi continues to evolve, partnerships like this are anticipated to play an important position in fostering belief and accessibility. By integrating with the Pyth Network, Revolut shouldn’t be solely enhancing DeFi ecosystems but additionally reinforcing its place as a frontrunner within the digital banking area.
