Pyth Network is partnering with Revolut to contribute to both centralized and decentralized financial markets. The pair will distribute Pyth’s sophisticated price data through Revolut’s massive user base.

In doing so, the pair hope to provide new resources to DeFi and show CeFi institutions that Web3 investment can be cheap and profitable.

Pyth and Revolut Work to Transform Finance

According to the announcement, Revolut will now provide Pyth with data for over 500 markets, including commodities, foreign exchanges, and equities. Pyth Network is a decentralized oracle protocol that delivers real-time financial market data to blockchain applications, sourcing data directly from first-party providers like Revolut.

With this partnership, Pyth and the popular neobank are joining forces to contribute trusted price data to the DeFi ecosystem. This is something of a popular topic in crypto today; Ripple integrated Chainlink Standard to help with this yesterday.

Additionally, Pyth and Revolut claimed that their collaboration would straddle the line between DeFi and CeFi, providing benefits for both sectors. Revolut, for its part, is a relatively new player in the crypto market.

Most recently, the platform has targeted EU expansion under MiCA and attempted to overthrow Tether’s stablecoin dominance.

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Author: Landon Manning