- Revolut has joined the Pyth Community as a knowledge writer to assist dependable DeFi pricing sources.
- The partnership brings collectively conventional finance and DeFi utilizing blockchain expertise.
- Revolut serves 45 million customers worldwide and its partnership with Pyth expands its web3 monetary ecosystem.
Revolut, the UK's main digital banking platform, has partnered with the Pyth Community to change into its newest knowledge writer.
This strategic transfer highlights the rising convergence between conventional finance and decentralized finance (DeFi) as blockchain expertise features traction throughout the monetary sector.
Revolut increasing into the web3 ecosystem
Regulated by the UK's Monetary Conduct Authority, Revolut is thought for its progressive strategy to banking and monetary providers. By becoming a member of the Pyth Community, Oracle's blockchain-based resolution, Revolut will present pricing knowledge to strengthen the reliability and safety of decentralized purposes (dApps).
The collaboration represents a big step in Revolut's growth into the web3 ecosystem.
Integrating pricing sources from over 120 knowledge suppliers and supporting over 450 dApps, the Pyth community goals to offer clear and dependable knowledge for DeFi tasks.
Pyth's partnership with digital financial institution Revolut leverages the financial institution's in depth market experience to extend the accuracy of Pyth's pricing feeds. This in flip strengthens the infrastructure for rising monetary purposes the place dependable knowledge is important.
Mike Cahill, CEO of Duoro Labs and Pyth Community contributor, emphasised the significance of connecting conventional and decentralized finance.
“We’re witnessing a pivotal second the place established monetary establishments like Revolut are recognizing the worth of digital belongings and DeFi. Collectively, we’re shaping a future the place clear and safe knowledge allows the following era of monetary innovation,” mentioned Cahill.
Since its launch in 2015, Revolut has grown quickly, serving greater than 45 million customers in 200 international locations and providing a variety of monetary providers. The partnership with Pyth Community underscores Revolut's dedication to embracing cutting-edge expertise to remain on the forefront of monetary innovation.
As DeFi continues to evolve, partnerships like this are anticipated to play a key position in fostering belief and availability. By integrating with the Pyth Community, Revolut not solely improves DeFi ecosystems, but in addition strengthens its place as a frontrunner in digital banking.
