Deriv, a leading global online brokerage specialising in trading and derivatives, is excited to announce the expansion of its partnership with BVNK, the globally regulated payments platform bridging traditional payment systems with blockchain technology.
Through the partnership, Deriv has enabled Solana payments for 2.5 million customers globally, giving them the option to make deposits with digital assets.
With an estimated 4 million owners of cryptocurrency around the world, the demand for digital currency payments is growing. In the last 12 months, the market cap of cryptocurrency Solana (SOL) has grown 700% to over $40bn.
The collaboration with BVNK marks a significant step forward in Deriv's payment strategy, enabling them to quickly meet demand for digital currencies from their diverse global customer base.
Deriv’s decision to explore digital currencies was driven by requests from their customers and the opportunity to expand to new markets. Tiago Garbim, Senior Payment Solutions Operations Executive at Deriv, said: “We've noticed a growing interest in cryptocurrencies like Solana and Polygon among our clients - by partnering with BVNK we can effectively respond to their needs”.
Bernhard Niebsh, Director of Product for Payments at BVNK, said: "Deriv shares our vision for fast frictionless global money movement. This collaboration is more than just integrating new technologies; it's about creating an easy and efficient payments experience for Deriv users around the globe. Cryptocurrency payments are increasingly important to brokers and we’re thrilled to partner with Deriv to support their global growth.”
Integrating with BVNK's API was easy, said Garbim: "We started with Solana due to high client demand and we plan to expand our crypto payment options in future. BVNK's excellent support has made this a very smooth transition."
The partnership between Deriv and BVNK extends beyond digital currency payments. Deriv also uses BVNK’s platform to settle funds from South East Asia, and the partnership has led to significant time savings.
"Our relationship with BVNK has been very smooth in all aspects," Garbim remarked. "Their competitive fees and comprehensive product suite make them an ideal partner for us. We're excited about the future of this partnership."