A peripheral device may implement storage virtualization for non-volatile storage devices connected to the peripheral device. A host system connected to the peripheral device may host one or multiple virtual machines. The peripheral device may implement different virtual interfaces for the virtual machines or the host system that present a storage partition at a non-volatile storage device to the virtual machine or host system for storage. Access requests from the virtual machines or host system are directed to the respective virtual interface at the peripheral device. The peripheral device may perform data encryption or decryption, or may perform throttling of access requests. The peripheral device may generate and send physical access requests to perform the access requests received via the virtual interfaces to the non-volatile storage devices. Completion of the access requests may be indicated to the virtual machines via the virtual interfaces.