Revolut, the global fintech giant serving over 45 million users across 200 countries, has made headlines as the first banking data publisher to join the Pyth Network. This move highlights the growing intersection of traditional finance (TradFi) and decentralized finance (DeFi), setting the stage for a transformative shift in the financial ecosystem.
As part of this integration, Revolut will contribute its digital asset quote and trade data to Pyth’s price feeds, allowing DeFi developers to leverage accurate, real-time information for their decentralized applications. Mazen Eljundi, Global Business Head of Crypto at Revolut, emphasized the importance of this milestone:
“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.”
Pyth Network, originally built for Solana but now spanning over 80 blockchain ecosystems, including Ethereum, Optimism, Arbitrum, and Avalanche, is a leading oracle provider offering real-time market data on cryptocurrencies, equities, FX, and commodities. With over 500 active price feeds and a total traded volume exceeding $1 trillion in 2024, Pyth has become a cornerstone of the DeFi landscape.
Michael Cahill, CEO and co-founder of Douro Labs, a core contributor to Pyth, highlighted the broader implications of Revolut’s entry:
“This collaboration underscores a larger trend where traditional financial institutions, trusted by millions, are recognizing the value of decentralized finance. Together, we are driving the future of finance, where transparent and reliable data empowers the next generation of financial applications.”
Revolut now joins an elite group of Pyth data publishers, including Binance, Galaxy Digital, and Jane Street, contributing to a rapidly evolving Web3 space. This partnership not only enhances the reliability of DeFi applications but also signals a growing adoption of decentralized technologies by mainstream financial entities.
As more institutions follow Revolut’s lead, the bridge between TradFi and DeFi continues to strengthen, offering unparalleled opportunities for innovation and collaboration in the financial world.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
