Tap Global, a crypto service provider that combines traditional finance with blockchain technology, has become the Aquis Stock Exchange’s (AQSE) first listing of 2023. Per a press release, the listing came following a $20.5 million reverse takeover by Quetzal Capital.
The Tap Global app allows users to buy over 25 crypto assets and link their virtual or physical Tap Prepaid Mastercard to their crypto wallet, enabling them to use crypto in everyday transactions. It currently has over 100,000 users worldwide.
Tap Global non-executive chairman John Taylor is adamant that the innovations the platform offers will make it a leader in the industry.
“With cryptocurrency and blockchain technology growing faster than any financial technology in history, I am excited to help Tap fulfil its potential of becoming a FinTech Super App, bridging the gap between traditional and digital finance,” Taylor said.
“This listing is a meaningful step in delivering on that ambition and I look forward to working with Tap’s founders, David and Arsen, as we build on the Company’s extraordinary progress to date.”
The first #AQSE listing this year.
Full article: https://t.co/NK5Wp2VqjG
— Tap Global Group Plc (@TapGlobalPlc) January 10, 2023
Tap Global goes public despite crypto winter, FTX’s collapse
Tap Global CEO David Carr realises that the decision to go public after FTX’s collapse might look surprising. However, he decided to go ahead with the listing because he wanted to provide a reliable crypto service to everyone in the U.K.
“Our decision to list now raised some eyebrows, particularly in the wake of the FTX fallout, but it is our focus on regulation and customer protection that sets us apart from less responsible operators,” says Carr.
“We now look at where we go from here, and we’re looking at various regions now to expand our geographic reach.”
Tap Global was launched in 2020, three years after the founders’ first meeting in 2017. Carr explained that his teams take a careful approach to choosing what assets can be accessed through the app.
“We’ve done it all out of our own pocket. We don’t want to over capitalise ourselves and, ultimately, want to do it right and 100% above board,” he said. “We look at every token and want to understand why people would want it. Before we list an asset, we have to understand it’s viable.”