Tap Global Group Plc - Introduction of XTP Token Locking Feature, UK
PR Newswire
LONDON, United Kingdom, December 18
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.
18 December 2024
Tap Global Group Plc
("Tap Group" or the "Company")
Introduction of XTP Token Locking Feature, UK
Enhanced product offering following comprehensive regulatory review
Tap Global Group Plc (AQSE: TAP), the FinTech company bridging the gap between traditional finance and blockchain technology, is pleased to announce the introduction of its XTP token locking feature for UK customers following a comprehensive regulatory review. This is further to the commercial agreement with Tap N Go that launched the XTP Cashback Programme, announced on 1 July 2024.
The feature allows customers to lock their XTP tokens for a 12-month period, demonstrating their long-term commitment to the Tap ecosystem while enhancing token stability through reduced circulating supply. Customers participating in the locking programme will receive various platform benefits, including:
- Priority customer service access
- Reduced trading fees on cryptocurrency transactions
- Enhanced transaction limits
- Preferential foreign currency transaction rates
- Rewards on Tap Global Mastercard transactions
The introduction follows detailed regulatory analysis and legal review to ensure compliance with UK financial promotion regulations.
Arsen Torosian, CEO of Tap Global, commented:
"The relaunch of our locking feature represents another milestone in our commitment to providing innovative, compliant crypto services. This enhancement to our product suite allows customers to demonstrate their long-term commitment to the Tap ecosystem while enjoying enhanced platform benefits.
The UK is a very active crypto trading market and this feature makes our platform even more attractive as we look to win over more UK customers and make holding assets on the Tap platform a compelling proposition."
The Directors of the Company accept responsibility for the contents of this announcement.
Enquiries:
Tap Global Group Plc Arsen Torosian, Chief Executive Officer |
via Vigo Consulting |
Peterhouse Capital Limited (Aquis Growth Market Corporate Advisor) | +44 (0)20 7220 9795
|
Tennyson Securities (Broker) Peter Krens Alan Howard | +44 (0)20 7186 9030 |
Vigo Consulting (Investor Relations) Ben Simons Kendall Hill Peter Jacob | +44 (0)20 7390 0230 tapglobal@vigoconsulting.com |
About Tap Global Group Plc
Tap Global Group Plc ("Tap Group") bridges the gap between traditional finance and blockchain technology. It offers over 380,000 individual and business customers an innovative and fully integrated fiat payments and cryptocurrency settlement service including access to several major cryptocurrency exchanges. Through the Tap app, customers can trade up to 48 cryptocurrencies and store them directly in their customer wallet, while benefiting from proprietary AI middleware for real-time best-execution and pricing.
Tap Group's European business, Tap Global Limited, was the first cryptocurrency FinTech company to be approved by Mastercard in Europe. Through the Tap card, European users can convert their cryptocurrencies to fiat and spend at more than 37 million merchant locations worldwide.
Investor website:
www.investor.tap.global
Tap Group's operating subsidiaries
Tap Global Limited serves the European customer base and is registered in Gibraltar and licensed and regulated by the Gibraltar Financial Services Commission under the DLT with licence No. 25532.
Tap Americas LLC serves the US customer base and is a limited liability company organised under the laws of the state of Florida. Cryptocurrency services are provided by Zero Hash, a Chicago-based B2B2C crypto infrastructure platform.
Learn more:
www.withtap.com
Follow us on social media:
LinkedIn:
https://www.linkedin.com/company/tapglobal/
X (formerly Twitter):
https://twitter.com/TapGlobalPlc
