Deriv has officially obtained a banking license from the regulatory authority in St Vincent and the Grenadines. Rakshit Choudhary, the CEO of Deriv, highlighted that the landmark regulatory milestone is part of a broader push to expand the broker’s jurisdictional reach globally.
Deriv is one of the world’s largest online brokers. They offer CFDs and other derivatives on forex, stocks & indices, cryptocurrencies, commodities, and Derived Indices to millions of registered users across the globe.
According to Deriv’s leadership, the newly secured banking license marks a significant shift in the broker’s operational capabilities by opening up product ranges that are not currently offered.
Beyond expanding its product catalog, the transition to a banking structure is set to streamline every step of the client’s journey around deposits and withdrawals. By reducing its operational reliance on third-party payment providers, Deriv plans to build smoother, direct transactional solutions for its global client base.
Deriv remains one of the more heavily regulated brokers in the retail trading space, holding licenses across multiple key jurisdictions, including Malta, Labuan in Malaysia, Vanuatu, the British Virgin Islands, Mauritius, and the Cayman Islands.
This diverse regulatory portfolio was further strengthened last year when the broker secured a full Category 1 brokerage license from the regulator in Dubai, subsequently onboarding traders under that license.
