Leading global online brokerage Deriv has announced an expansion of its existing partnership with BVNK to enable Solana (SOL) payments for more than two million customers.
With an estimated four million owners of cryptocurrency around the world and Deriv’s customers demanding digital currency payments, the partnership looks to change its payment strategy plan.
BVNK, the globally regulated payments platform that bridges traditional payment systems with blockchain technology, will enable SOL payments for Deriv’s 2.5 million customers, giving them the option to make deposits with digital assets.
Tiago Garbim, Senior Payment Solutions Operations Executive at Deriv, commented: “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.”
Founded in 1999, Deriv has chosen to start with SOL, a coin in which the market cap has grown by 700% to over $40b in the past year.
Garbim added: “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 the two companies extends beyond digital currency payments. Deriv also uses BVNK’s platform to settle funds from South East Asia, which has led to significant time savings.
Last September, BVNK announced a partnership with Noda, the Open Banking payments provider enabling the company’s customers the use of Stable Coin.
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; 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.”