Quick take:
Revolut will now integrate its digital asset quote and trade data into Pyth price feeds.
The integration will allow developers to incorporate Revolut data into their decentralised apps.
Revolut joins the likes of Amber Group, Binance, Bitstamp, Bybit, Cboe, Galaxy Digital, OKX, Raydium and Wintermute on Pyth.
Revolut has become the first banking data publisher to join Pyth Network. The UK-based Fintech firm will now integrate its digital asset quote and trade data into Pyth Network price feeds, The Block reported.
The integration will allow decentralised finance developers to incorporate the data into their apps.
With this move. Revolut joins a growing list of Fintech and Web3 companies on Pyth, including Nomura’s digital asset unit Laser Digital, which joined in March last year, as well as, Amber Group, Binance, Bitstamp, Bybit, Cboe, Cumberland DRW, Galaxy Digital, Gemini, Jane Street, OKX, Raydium and Wintermute.
Commenting on the partnership, Revolut Global Business Head of Crypto Mazen Eljundi said in a statement: “By working with Pyth to provide our reliable market data to applications, Revolut can influence digital economies by ensuring developers and users have access to the precise, real-time information they need.”
This integration will bring over 500 real-time feeds for digital and traditional assets to the Pyth network and over $1 trillion in annual traded volume based on last year’s data, the report said.
Michael Cahill, CEO and co-founder of Douro Labs, a core contributor to the Pyth Network commented: “Pyth’s collaboration with Revolut is part of a larger trend we’re seeing, where traditional banking institutions, trusted by millions of customers globally, are recognising the value of decentralised finance and digital assets.”
In November, Cahill told NFTgators in a written Q&A interview that Pyth’s “vision is to have the price of everything that trades anywhere in the world reported to Pyth, and made usable by blockchains, databases, analytic platforms, exchanges, and more.”
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