Transact Payments’ Client -Tap Global receives “In Principle Approval” from the Gibraltar Financial Services Commission
31st October 2019 – Tap Global (TAP) has been granted the in-principle approval of their DLT licence from the Gibraltar Financial Services Commission. This licence will enable TAP to launch a fully regulated crypto Wallet with multiple fiat payment options.
The TAP accounts with multiple crypto and fiat wallets will have access to real time crypto trading with numerous exchanges. All assets are held securely in multi-signatory “cold storage” wallets or electronic money client accounts.
David Carr COO of TAP commented: “this approval has been tough to obtain which makes it worth more to the TAP team. Although there are no current requirements to be regulated to operate a crypto product, TAP chose to be fully regulated to provide additional comfort to customers that may want to join the Crypto Revolution” Carr also commented: “it is my belief that all crypto products should be regulated in some form. There are a number of unregulated products available now but I believe that this will change in the coming years”.
Following this approval, TAP is preparing the Beta Launch of the full product to a limited number of customers in November 2019. Following feedback from our Beta Users TAP may enhance some functionality or UI experience and launch the full product in early 2020.
Kriya Patel, CEO of Transact Payments Limited commented: “TPL is delighted to be able to support the delivery of the innovative TAP Prepaid Mastercard card solution and look forward to the successful roll-out of one of the first fully regulated payment and DLT solutions in this ever-popular area”.
About Tap Global Ltd:
Tap Global Ltd (TAP) is a Gibraltar-based company providing clients with real time trading of crypto assets utilising multiple exchanges from one APP.
The multi crypto and Fiat wallet structure of TAP coupled with bespoke designed proprietary middleware solution allows TAP to facilitate trades efficiently and seamlessly.
The TAP Prepaid Mastercard (one of the first to work with Mastercard) will allow our customers the ability to realise the value of their digital assets by exchanging them into traditional currencies for spending with merchants that accept Mastercard or to withdraw cash at ATMs in over 200 countries around the world.
For more information please visit www.tap.global