Bridging TradFi and DeFi: Revolut’s Partnership with Pyth Network
As the cryptocurrency market continues to mature, traditional financial institutions and fintech giants are increasingly exploring decentralized technologies to enhance their offerings. One such example is Revolut, a leading neobank with over 45 million users, which recently announced its partnership with Pyth Network as part of its standalone crypto strategy.
Revolut’s move to develop a dedicated app for retail and professional crypto traders highlights its ambition to deepen its presence in the digital asset space. This collaboration with Pyth Network raises important questions:
Does this partnership hold significant weight in the broader crypto market?
What role does Pyth Network play in market-making, and how extensive is its reach beyond cryptocurrencies?
To understand the relevance of this partnership, it’s essential to profile Pyth Network, explore its breadth and depth in providing real-time market data, and examine its partnerships with other traditional financial institutions beyond the Defi native ones.
Pyth Network: The Backbone of Decentralized Price Feeds Empowering dApps Across TradFi and DeFi
Launched in August 2021 , Pyth Network is a decentralized oracle solution designed to deliver real-time, high-quality market data to decentralized applications (dApps) across multiple blockchain ecosystems. It acts as a bridge between traditional financial markets and decentralized finance (DeFi), providing price feeds for a wide range of assets, including cryptocurrencies, equities, foreign exchange (FX), and commodities. With over 540+ data feeds and integration across 80+ blockchains, Pyth is a critical infrastructure provider in the evolving Web3 landscape.
Key Highlights
- Market Presence: Data feeds trusted by 430+ dApps, including decentralized exchanges (DEXs), lending protocols, and derivatives platforms.
- Blockchain Integration: Supports over 80 blockchains, including Solana, Ethereum, Optimism, and Binance Smart Chain.
- Data Updates: Over 110 million updates per day ensure precision and reliability for time-sensitive applications.
- Institutional Contributors: Partners include major financial institutions like Jane Street, CBOE, Binance, OKX, Revolut, AMINA Bank, and Laser Digital.
Core Services
1. Real-Time Price Feeds
- Covering cryptocurrencies, equities (e.g., U.S. stocks like Apple and Tesla), FX rates, and commodities.
- High-frequency updates every 400 milliseconds ensure low-latency data for mission-critical systems.
2. Decentralized Oracle Infrastructure
- Provides secure and tamper-proof data feeds directly from institutional-grade sources.
- Includes confidence intervals with each price feed to enhance data reliability.
3. Cross-Blockchain Compatibility
- Supports seamless integration across major blockchain ecosystems to enable multi-chain dApps.
4. Developer-Friendly Tools
- Offers APIs and SDKs for easy integration of Pyth’s data feeds into decentralized applications.
Strategic Partnerships
Pyth Network has formed key partnerships with traditional financial institutions to enhance its market data offerings:
1. Revolut
- A leading neobank with over 45 million users globally.
- Contributes proprietary price data for digital assets, FX rates, equities, and commodities to Pyth’s oracle network.
- Significance: Revolut’s partnership highlights the convergence of centralized finance (CeFi) and DeFi by enabling real-time data sharing from a trusted neobank into decentralized ecosystems.
2. AMINA Bank
- A regulated Swiss bank specializing in digital asset solutions.
- Supplies price data for digital assets to Pyth Price Feeds.
- Significance: As one of the first banks to join Pyth, AMINA strengthens the credibility of decentralized oracles by providing regulated financial data.
3. Laser Digital (Nomura Subsidiary)
- A digital asset subsidiary of Nomura Holdings.
- Contributes price feeds for both crypto and traditional assets like equities and FX.
- Significance: This partnership underscores the interest of major financial institutions in leveraging blockchain technology to modernize their operations.
Strategic Vision
Pyth Network aims to become the backbone of decentralized finance by providing accurate and reliable market data that powers dApps across industries. Its partnerships with Revolut, AMINA Bank, and Laser Digital demonstrate its commitment to bridging traditional finance with blockchain-based ecosystems.
Applications in DeFi
Pyth’s real-time price feeds are critical for various DeFi use cases:
- Decentralized Exchanges (DEXs): Enable accurate pricing for token swaps.
- Lending Protocols: Provide collateral valuation for loans.
- Derivatives Markets: Support the creation of synthetic assets tied to real-world prices.
- Stablecoins & Payments: Enhance stability by providing reliable FX rates.
Funding & Business Model
Pyth Network has been supported by contributions from institutional trading firms such as Jane Street, Jump Trading Group (a key backer), DRW Cumberland, FTX (prior to its collapse), and others that also act as data providers on the network. These firms supply high-quality proprietary market data directly into Pyth’s oracle system without intermediaries — ensuring accuracy while monetizing their data contributions within decentralized ecosystems.
Expansion Plans
- Strengthening collaborations with global financial institutions to diversify data sources further.
- Expanding blockchain integrations to support emerging ecosystems like Aptos and Sui.
- Increasing asset coverage to include more global equities and commodities.
Conclusion
The partnership between Revolut and Pyth Network signals a growing convergence between traditional finance and decentralized finance (DeFi). By integrating with Pyth, Revolut not only strengthens its standalone crypto strategy but also contributes to the broader adoption of decentralized technologies. Pyth Network’s collaborations with entities like AMINA Bank and Laser Digital further underline its role as a bridge between traditional markets and blockchain ecosystems. With its ability to provide real-time, institutional-grade market data across multiple asset classes — including cryptocurrencies, equities, FX, and commodities — Pyth Network is redefining how data powers decentralized applications. As more financial players recognize the value of decentralized oracles like Pyth, its role in enhancing market transparency will remain pivotal for both retail users and institutional participants navigating the future of finance.
