News · Analysis
Deriv Secures Banking Licence in St Vincent and the Grenadines
According to Finance Magnates (2 September 2026), the CFD broker Deriv has obtained a banking licence from the regulator in St Vincent and the Grenadines (SVG), awarded to an entity separate from its existing offshore entity on the island. CEO Rakshit Choudhary is quoted as saying the move is “part of a broader push” to expand the broker’s jurisdictional reach and will reduce reliance on third parties for client deposits and withdrawals. The licence follows an earlier application reported by the outlet, and sits alongside Deriv’s existing regulatory footprint in Malta, Labuan, Vanuatu, the British Virgin Islands, Mauritius, the Cayman Islands and Dubai.
Deriv, a contracts-for-differences broker with an already broad regulatory footprint, has added a banking licence to its holdings in St Vincent and the Grenadines, according to a Finance Magnates report published on 2 September 2026. The development builds on an earlier application that the outlet had flagged, meaning the outcome was, in its words, not a surprise.
What happened
Finance Magnates reports that the licence was granted by the SVG regulator to a separate legal entity from the one Deriv already operates on the island, rather than being layered onto its existing offshore structure. CEO Rakshit Choudhary described the licence as “part of a broader push” to widen the group's jurisdictional reach, and said it “opens up product ranges we don't currently offer,” per the outlet's quotes.
Why it matters
According to the report, Choudhary framed the licence primarily around payments infrastructure rather than new trading products. He is quoted as saying the move can be seen as an effort to streamline “every step of the client's journey around deposits and withdrawals,” reducing the broker's reliance on third-party payment providers so it can “build smoother solutions directly for our clients.” For a firm operating across multiple jurisdictions, in-house banking capability of this kind can, in principle, shorten the chain of intermediaries involved in moving client funds, though Finance Magnates' report does not detail the specific banking services the new entity will offer or when they will go live.
What it means for traders
Deriv already holds licences in Malta, Labuan in Malaysia, Vanuatu, the British Virgin Islands, Mauritius and the Cayman Islands, and obtained a full Category 1 brokerage licence from the Dubai regulator last year, according to Finance Magnates. It has also opened a Nicosia technology hub focused on artificial intelligence, data analytics and software development, and a physical office in Mauritius earlier this year, the outlet notes. Set against that backdrop, the SVG banking licence looks like an incremental addition to an existing multi-jurisdictional structure rather than a standalone announcement, and traders assessing any broker's regulatory standing should weigh such licences alongside the totality of a firm's oversight rather than any single approval in isolation. Readers comparing regulatory track records across the industry may find our Best Regulated Broker winners a useful point of reference, and our methodology page sets out how such assessments are constructed. This report does not state or imply that Deriv has received, or is otherwise connected to, any World FX Awards recognition.
What to watch
Finance Magnates' report does not specify a timeline for when the new banking entity will begin processing client deposits or withdrawals, nor does it detail which products the licence might eventually support. Independent confirmation from the SVG regulator itself would add further clarity to the claims attributed to Choudhary. Observers may also watch whether Deriv extends similar in-house banking infrastructure to other jurisdictions where it holds brokerage licences, given the CEO's stated ambition for broader jurisdictional reach.
FAQ
What licence has Deriv obtained? According to Finance Magnates (2 September 2026), Deriv has obtained a banking licence from the regulator in St Vincent and the Grenadines, granted to an entity separate from its existing offshore entity there.
Why did Deriv seek a banking licence? Per the report, CEO Rakshit Choudhary said it forms part of a broader push to expand jurisdictional reach and will reduce the broker's reliance on third parties for deposits and withdrawals.
Does this licence relate to any award recognition? No. The source material does not state or imply that Deriv has won or is endorsed by any award, including those referenced on this site.