Revolut Expands into the Web3 Ecosystem by Partnering with the Pyth Network

UK digital banking giant Revolut has joined the Pyth Network as its latest data publisher.

The move further integrates traditional finance with decentralized finance (DeFi) as blockchain technology gains traction across the financial sector.

Revolut expands into web3

Fully licensed by the UK’s Financial Conduct Authority, Revolut is known for its innovative approach to banking and financial services. Now, joining the Pyth Network, a blockchain oracle service, will see the digital bank contribute price data to the network, bolstering the reliability and security of decentralized applications (dApps).

This collaboration marks a major step in Revolut’s expansion into the web3 ecosystem.

The Pyth Network aggregates price feeds from over 120 data providers and supports more than 450 dApps, aiming to provide transparent and reliable data for DeFi projects.

Pyth's partnership with Revolut digital bank to integrate the bank's deep market expertise into Pyth price feeds will enhance the accuracy of Pyth price feeds. This strengthens the infrastructure for new financial applications that rely heavily on accurate data.

Speaking on the partnership, Mike Cahill, CEO of Duoro Labs and a contributor to the Pyth Network, highlighted the significance of bridging traditional and decentralized finance.

“We are seeing a pivotal moment where mainstream financial institutions likeの一部を自動翻訳