Crypto exchange Tap Global becomes one of London’s first listings of 2023
Tap Global has become one of London’s first listings of 2023 and the UK’s first listed crypto exchange services provider.
The platform has listed on Aquis Stock Exchange.
A regulated crypto app, Tap Global aims to bridge the gap between traditional finance and blockchain technology by providing traditional banking and crypto settlement services. It already boasts 100,000 global users.
Tap provides access to several major crypto exchanges through its app allowing users to purchase more than 25 crypto assets, as well as the option to be issued a physical or virtual Tap Prepaid Mastercard to make purchases in crypto or fiat at more than 40 million merchants worldwide.
Listing was via reverse takeover of Quetzal Capital (investment company), having raised gross proceeds of £3.1 million by way of a subscription for 68,888,890 ordinary shares at a price of 4.5 pence per share.
John Taylor, Tap’s non-executive chairman, said he believed Tap was a dynamic, proven and revenue-generating business in a sector capable of significant growth.
“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,” he 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.”
Speaking as the listing went live, CSO and founder Arsen Torosian said he was looking forward to kicking on in 2023 now the listing has occurred.
“With a stock market listing and successful fundraising under our belts, 2023 is going to be a huge year for Tap,” he said.
“The opportunity exists to significantly grow our user base as crypto investors look for a secure, reliable, and innovative platform. We look forward to updating Tap’s existing 100,000 users and our new shareholders on our progress as we enhance the platform, gain new customers, and expand into new territories.”
Speaking to Crypto AM, co-founder and CEO David Carr said the company had come a long way since its first meeting in 2017, followed by an official launch in 2020, adding every step had been done carefully and with a measured approach.
“We now look at where we go from here, and we’re looking at various regions now to expand our geographic reach,” he explained
“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.”
Assets are being added to the exchange each week but, as Carr is quick to point out, he and his colleagues are incredibly particular about what digital assets they select.
“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,” he said.
“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.
“Like any emerging technology, cryptocurrency has seen its fair share of bad actors impacting market sentiment. However, as firms that have not shown proper care in safeguarding assets fall to one side, the market will mature, leaving fully regulated and responsible firms, such as Tap, well-positioned to succeed.”