Deriv will add Solana as a payment option thanks to a new partnership expansion with BVNK

Deriv, one of the world’s largest online brokers that offers CFDs and other derivatives, recently revealed a new partnership expansion with BVNK. The expansion will allow the company to add Solana as its newest supported payment method.

Deriv makes a new strategic move

According to the company, the partnership with BVNK is a strategic move that came after Deriv noticed a growing interest in crypto payment methods, specifically Solana and Polygon, among its clients. A team-up with BVNK will allow it to effectively respond to the customers’ needs.

BVNK itself is a globally regulated payments platform that has integrated traditional payment systems with increasingly popular blockchain technology. The expansion of the partnership between the two firms will allow Deriv to bring SOL-based payments to its massive customer base of 2.5 million users, who come from all corners of the world.

Introducing Solana as a new payment method will bring additional flexibility in making deposits via digital assets, and as the crypto market continues its surge, Solana’s market cap has seen a massie 700% increase in the last year.

The project’s market cap grew to $42 billion at the time of writing as a result, allowing it to become the fifth-largest crypto.

The inclusion of Solana also represents a big milestone for Deriv, or more specifically, for its payment strategy. It will help the brokerage swiftly address the growing demand for crypto from its global clientele. As the company taps into the new markets, it will satisfy the existing customer base’s requests and needs, while also opening itself up to new users who might be drawn by the offering.

Deriv and BVNK have an excellent relationship and a smooth partnership

Deriv’s Senior Payments Solutions Operations Executive, Tiago Garbim, stated: “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”.

Garbim added that the company has decided to start with Solana because this is the cryptocurrency with high client demand. However, the idea is to continue to expand the crypto payment options in the future, meaning that new cryptos might be added as payment options in the near future, should the adoption of Solana as a payment method end up being as successful as expected.

Speaking of BVNK, Garbim said that the firm provided excellent support, which has made the integration of Solana a very smooth transition. Furthermore, the relationship between the two firms 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,” the executive concluded.

Meanwhile, BVNK’s own Director of Product for Payments, Bernhard Niebsh, also commented on the partnership, praising Deriv for sharing BVNK’s vision for fast, frictionless global money movement. He said that the collaboration is more than just integrating new technologies, as it will also create an efficient, easy-to-use payments system, and improve the experience for Deriv’s users around the world.