Deriv taps BVNK to add Solana to its payments options

Rick Steves

“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”.

In a strategic move to cater to the growing demand for digital currency payments, Deriv, a leading global online brokerage specializing in trading and derivatives, has expanded its partnership with BVNK, the globally regulated payments platform that integrates traditional payment systems with blockchain technology.

This expansion allows Deriv to offer Solana payments to its vast customer base of 2.5 million globally, providing them with the flexibility to make deposits using digital assets. As the cryptocurrency market continues to surge, with an estimated 4 million cryptocurrency owners worldwide, the market cap of Solana (SOL) has experienced an impressive 700% growth in the last 12 months, reaching over $40 billion.

This milestone in Deriv’s payment strategy, positioning the brokerage to swiftly address the increasing demand for digital currencies from its diverse global clientele. Deriv’s decision to venture into the realm of digital currencies was prompted by customer requests and the opportunity to tap into new markets.

“Cryptocurrency payments are increasingly important to brokers”

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”.

“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. Our relationship with BVNK has been very smooth in all aspects. Their competitive fees and comprehensive product suite make them an ideal partner for us. We’re excited about the future of this partnership.”

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.”

  • Read this next

    Fundamental Analysis

    Global FX Market Summary: EUR, Fed Minutes February 21, 2024

    Hawkish Fed minutes could strengthen USD, dovish BoE hints could boost euro, mixed economic data leaves impact unclear, FOMC minutes release today holds the most weight.

    Digital Assets

    360T launches Crypto NDF offering

    “By launching our crypto offering with non-deliverable derivatives products, we are allowing our diverse, global client base to engage with the crypto market without the need to build or invest in Distributed Ledger Technology (DLT) infrastructure. Looking ahead, we will continue to work with our industry partners to expand 360T’s crypto.”

    Technical Analysis

    FTSE 100 index Technical Analysis Report 20 February, 2024

    The FTSE 100 index is likely to fall to support level 7600.00 after reversing from resistance level 7750.00.

    Retail FX

    Afterprime enhances trade reporting with PrimeXM and TRAction

    “This collaboration has made setting up EMIR and MIFIR reporting for our CySEC entity a breeze, allowing us to maintain our focus on providing best-in-class pricing and top-notch customer service.”

    Market News

    US Market Stocks See a Dip Ahead of FOMC Minutes Announcement

    As the financial world eagerly awaits the release of the Federal Open Market Committee (FOMC) meeting minutes scheduled for today, the S&P 500 index begins trading slightly lower, marking a subtle shift in market sentiment following a prolonged rally.


    Adaptive proves that “the future of finance is in the cloud”

    “While workloads have migrated to the cloud over the past decade, some have doubted whether its latency and fault tolerance can match that of on-premises solutions – our joint testing on Google Cloud, proves that this is the case.”

    Retail FX

    Axi Select offers live trading amid “end of demo account prop firm model”

    “We genuinely empathize with the thousands of talented traders who will now be denied access to their allocated funds, and we encourage anyone using the demo trading registration model to question whether their prop firm partner will be able to continue as an ongoing concern given recent events. Unfortunately, this could be the beginning of the end for the demo account prop firm model.”

    Digital Assets

    Celsius founder Mashinsky agrees to shared lawyers with Sam Bankman-Fried

    Former Celsius CEO Alex Mashinsky has addressed potential conflicts of interest in his legal representation during a brief hearing in a New York courtroom.

    Digital Assets

    Sam Bankman-Fried captured in first jail photo

    Sam Bankman-Fried, the once-billionaire founder of FTX, has been spotted looking quite different with a new beard and a slimmer figure in a photo that’s been making rounds, reportedly taken inside New York’s Metropolitan Detention Centre.