Pyth Partners with Revolut to Integrate Digital Asset Data into DeFi

Digital banking giant Revolut has partnered with decentralized data infrastructure provider Pyth to integrate digital asset data into decentralized finance (DeFi).

Through this partnership, Revolut will be adding its digital asset price data to Pyth Price Feeds, which is widely consumed by DeFi developers, according to a statement shared with Blockworks.

With over 45 million users spread across 200 countries, this partnership will enable developers to integrate Revolut’s high quality digital asset pricing data into dApps built on Ethereum to create one network that reflects prices across the most popular assets. This is a step in merging traditional finance with decentralized finance.

“This partnership is particularly important as Mazen Eljundi, Global Business Head of Crypto at Revolut, stated that it is a key moment in our mission to modernize finance,” the statement reads. “Pyth’s role in the industry will help us leverage this transformation as DeFi continues to grow. We are trying to help developers and users provide real time market data, which is essential for any crypto exchange.”

Pyth and Revolut to Bring Real-Time Data to the Next Generation of DeFi Apps

This integration will see Revolut, together with supported DEXs, become data publishers for the Pyth oracle network, the statement said. Supporting the operation of many dApps, Pyth will provide its proprietary digital asset price data to the Pyth Price Feeds. In December, Pyth saw TVS of over $15.2 billion.

As Revolut grows its crypto offerings such as the Revolut X exchange in the European Economic Area, this partnership is a natural step in that direction, further closing the gap between children’s real finance and the DeFi space.

Michael Cahill, CEO and Co-Founder of Douro Labs, a core contributor to the Pyth Network, also had a few words to say about this collaboration.

“More traditional banks are starting to cotton on to the decentralized finance value,” Cahill said in the statement. “This partnership is a testament to how more and more traditional finance institutions recognize the potential value in DeFi and digital assets.”

This collaboration also makes 500+ real time data feeds available for DeFi developers to consume across digital and traditional asset classes, the statement said. Pyth’s Price Feeds is used by dApps that collectively process over $1 trillion in on-chain volume annually as of 2024.

This partnership is expected to continue to boost growth for decentralized finance and will also provide real-time, reliable data for the next generation of financial applications.