In a collaboration, Pyth is working with Revolut to incorporate real-time digital asset data within Decentralized Finance (DeFi). This integration will offer developers and decentralized applications the necessary data in a timely manner.
In a strategic collaboration, the data infrastructure provider Pyth, known for its decentralized services, has teamed up with Revolut, a leading global digital banking company. This alliance aims to merge digital banking data with Decentralized Finance (DeFi). Specifically, Revolut will incorporate its digital asset price data into Pyth Price Feeds, a resource utilized by DeFi developers.
As a crypto investor, I’m excited about the upcoming integration of my preferred platform Revolut into Pyth’s decentralized network. With users spanning over 200 countries and counting, this move will allow developers to seamlessly incorporate Revolut’s top-tier digital asset pricing data into Decentralized Applications (dApps) running on Ethereum. This unification aims to create a single, cohesive network that mirrors the prices of the most sought-after assets, bridging the gap between traditional finance and the burgeoning world of decentralized finance.
According to Mazen Eljundi, Global Business Head of Crypto at Revolut, this collaboration is significant in our quest to modernize finance. He emphasized that Pyth’s role within the industry will be instrumental in aiding Revolut during this transformation as Decentralized Finance (DeFi) expands. Revolut aims to facilitate developers and users in delivering real-time market data, which is indispensable for any cryptocurrency exchange.
Pyth and Revolut Bring Real-Time Data to the Next Generation of DeFi Apps
Through this integration, Revolut, along with compatible DEXs, can serve as data providers for the Pyth oracle network. Operating numerous dApps, Pyth will supply its unique digital asset price data to the Pyth Price Feeds. In December alone, Pyth’s Total Value Locked (TVL) surpassed $15.2 billion. As Revolut expands its crypto services like the Revolut X exchange within the European Economic Area, this partnership is a logical progression in that growth. Additionally, there is increasing synergy between traditional finance and the DeFi sector, particularly for children’s finance.
Pyth Network was represented by Michael Cahill, CEO and co-founder of Douro Labs, a key contributor to the project. He discussed the collaboration, pointing out that traditional banks are becoming aware of the benefits offered by decentralized finance (DeFi). This partnership signifies how more traditional financial institutions are recognizing the potential value in DeFi and digital assets.
Michael Cahill, from Douro Labs and a major player in Pyth Network, talked about their collaboration. He mentioned that old-school banks are seeing the advantages of decentralized finance (DeFi). This partnership shows how traditional financial institutions are understanding and appreciating the potential benefits offered by DeFi and digital assets.
This teamwork provides access to over 500 live data streams for developers working in DeFi, spanning both digital and conventional asset types. Pyth’s Price Feeds are currently utilized by apps that have amassed a value exceeding $1 trillion since 2024, with ongoing growth expected. This partnership is anticipated to further fuel the expansion of decentralized finance. Additionally, it will offer real-time, dependable data for the development of future financial tools.
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2025-01-10 07:56