Fintechs.fi

Fintech & Crypto News

Deriv and BVNK: Pioneering Solana Payments Worldwide

In the fast-paced world of cryptocurrency and digital finance, partnerships and collaborations can often be the key to staying ahead of the curve. This rings particularly true for Deriv, a prominent global online brokerage specialising in trading and derivatives, which has recently expanded its partnership with BVNK. This globally regulated payments platform expertly bridges traditional payment systems with blockchain technology. This alliance brings a game-changing development – integrating Solana (SOL) payments for 2.5 million Deriv customers worldwide.

The Rising Demand for Digital Currency Payments

The cryptocurrency landscape has experienced exponential growth, with an estimated four million cryptocurrency owners globally. The demand for digital currency payments is undeniably on the rise, mirrored by the remarkable 700% increase in Solana’s market capitalisation over the past year, pushing it past the $40 billion mark. In this context of evolving financial preferences, Deriv and BVNK have joined forces to provide a seamless and efficient solution for their diverse customer base.

Responding to Customer Needs: Deriv’s Digital Asset Journey

Deriv’s decision to explore digital asset payments responded to the growing interest among their clients, who have been increasingly drawn to cryptocurrencies like Solana and Polygon. Tiago Garbim, Senior Payment Solutions Operations Executive at Deriv, explains, “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.”

Creating a Seamless Payment Experience: BVNK’s Vision

The collaboration between Deriv and BVNK is more than just a technological integration; it’s about creating an easy and efficient payment experience for Deriv’s global user base. Bernhard Niebsh, Director of Product for Payments at BVNK, emphasises the significance of this partnership in the context of the evolving financial landscape: “Deriv shares our vision for fast, frictionless global money movement. Cryptocurrency payments are increasingly important to brokers, and we’re thrilled to partner with Deriv to support their global growth.”

Smooth Integration and Future Expansion Plans

Integrating BVNK’s API was smooth, according to Tiago, who notes that they initially chose to enable Solana payments due to high client demand. This is only the beginning; Deriv has ambitious plans to expand its crypto payment options. BVNK’s impeccable support and competitive fees make them an ideal partner for this venture, ensuring a promising future for this partnership.

Beyond Digital Currency: Streamlining Funds Settlement

However, this collaboration goes beyond the realm of digital currency payments. Deriv also leverages BVNK’s platform to settle funds from Southeast Asia, resulting in significant time savings for both parties involved. This synergy is a testament to the advantages of solid partnerships in the rapidly evolving financial landscape.

BVNK’s Strategic Moves: The Path to the Future

Notably, BVNK, the globally regulated payments platform, has been actively making strategic moves in the industry. Just last September, BVNK announced a partnership with Noda, the Open Banking payments provider, enabling BVNK’s customers to use Stable Coin for their transactions.

Conclusion: Shaping the Future of Payments

In conclusion, the partnership between Deriv and BVNK represents a forward-thinking approach to meet the growing demands of the digital finance era. As cryptocurrencies continue gaining prominence in the financial landscape, seamlessly integrating them into payment options becomes paramount. Deriv and BVNK’s collaboration exemplifies the adaptability and innovation required in today’s ever-evolving financial markets. This partnership is not just about digital currency; it’s about shaping the future of payments for the global financial community.

Read Also: