Pyth and Revolut collaborate for real-time asset data integration

Pyth Network (CRYPTO:PYTH) has partnered with Revolut to bring real-time digital asset price data into decentralised finance (DeFi).

The collaboration will enable Revolut to contribute its proprietary asset data to Pyth Price Feeds, providing DeFi developers with the ability to incorporate quote and trade data into decentralised applications (DApps).

In exchange, Revolut's data will support the secure operation of Pyth’s decentralised applications.

Mike Cahill, CEO of Douro Labs and a core contributor to the Pyth network, stated that the partnership marks a significant shift in the financial landscape. 

He noted that it is "proof that the lines between traditional finance and Web3 are disappearing once and for all."

This integration highlights the ongoing convergence of traditional finance (TradFi) and decentralised finance (DeFi), which Cahill believes will establish the foundation for a truly global financial market.

With this partnership, DeFi developers will gain access to over 500 real-time price feeds across digital assets, foreign exchange, equities, and commodities. 

This data will support DApps, which collectively saw over $1 trillion in traded volume in 2024.

Revolut’s collaboration with Pyth also aligns with its ongoing efforts to expand its crypto offerings. 

The company has recently launched its Revolut X platform across the European Economic Area. 

Revolut has described this partnership as a "natural progression" for the company’s growing presence in the digital asset space.

Cahill also discussed Pyth's vision to go beyond merely competing with other price feed providers like Chainlink (CRYPTO:LINK). 

He explained that Pyth’s main goal is to "accelerate the pace at which DeFi can overtake TradFi" and create decentralised apps that can challenge traditional financial institutions.

Transparency and price reliability, Cahill emphasised, are critical in the interconnected financial ecosystem.

At the time of reporting, the Pyth Network (PYTH) price was $0.3407.