TL;DR
- Revolut becomes the first banking data publisher to join the Pyth Network, integrating its data into Pyth’s price feeds for DeFi applications.
- The Pyth Network, which provides real-time market data, will strengthen its infrastructure with this collaboration, expanding its feeds to over 500 sources.
- The fintech has over 45 million users and a constantly expanding crypto trading platform; it has also obtained a banking license in the UK.
Revolut, the UK-based fintech, has made history by becoming the first banking data publisher to join the Pyth Network. This collaboration will allow the company to integrate its digital asset quotes and transaction data into Pyth’s price feeds, making it easier to incorporate into decentralized applications (dapps) developed within the DeFi ecosystem.
The Pyth Network is known for providing real-time market data. The integration with Revolut will contribute to strengthening its data infrastructure, which feeds numerous blockchain-based applications.
DeFi developers will be able to use this data to enrich their platforms, benefiting from accurate and up-to-date information on both digital and traditional assets. With over 500 real-time feeds available, the Pyth Network handled transactions surpassing $1 trillion in volume during 2024.
Revolut Obtained a Banking License in the UK
The fintech now has over 45 million users worldwide, having solidified its market position with the launch of Revolut X, an independent crypto trading platform. Initially available in the UK, the platform expanded to 30 European countries, and its influence is expected to continue growing. Additionally, the firm is working on developing its own stablecoin.
Furthermore, the recent acquisition of a banking license in the UK highlights the company’s success in its expansion process. This license, obtained after a rigorous three-year process, will allow Revolut to offer more traditional financial products, positioning it uniquely in the financial market. The company, which has challenged the dominance of traditional banks, continues to lead the sector with its diverse services and innovative tools.
