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Online brokerage firm Deriv has officially secured a banking license in St. Vincent and the Grenadines, marking a significant step in its corporate expansion strategy. Chief Executive Officer Rakshit Choudhary stated that the regulatory approval is part of a broader effort to expand the broker's jurisdictional reach globally. The license was granted to an entity separate from the broker's existing offshore operations on the island.
The strategic shift enables Deriv to become more self-reliant by streamlining funding processes, including client deposits and withdrawals, while reducing its dependency on third-party payment providers. The move also allows the firm to offer a wider array of financial products that were previously unavailable under its standard CFD brokerage licenses. Deriv already holds regulatory approvals in multiple jurisdictions, including Dubai, Malta, Malaysia, and Cyprus.
This development reflects an emerging trend among global multi-asset brokers seeking to vertically integrate their infrastructure by acquiring banking capabilities. Market observers will watch how this operational independence enhances client onboarding efficiency and whether other retail brokers follow a similar path in expanding their regulatory footprint.
