Deriv taps BVNK to add Solana to its payments options
“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.”
