Quetzal Capital Plc - Update on TAP Global

Quetzal Capital Plc - Update on TAP Global

PR Newswire

London, December 12

13 December 2021

Quetzal Capital Plc

("Quetzal" or the "Company")

Update on TAP Global

Quetzal is pleased to announce that TAP Global Limited ("TAP"), a leading regulated fully integrated Crypto-Fiat exchange service provider with an associated neo banking platform, has launched its account services for corporate entities. This will now allow TAP to onboard corporate clients in addition to its already 58,000 registered individual users.

Several corporate clients have already been on-boarded to the TAP platform as a result of this new capability including Crypto Influencers, Crypto Funds, Metaverse Providers and Consultants. The Board of Quetzal believes that the provision of corporate accounts could be a very strong growth vector for TAP, given the strong regulatory umbrella that TAP has in place.

Corporate clients will be able to both accept and spend crypto as well as traditional fiat for payment for goods and/or services. Any crypto asset would be held securely and insured in the TAP cold storage facility. The Corporate can exchange the received asset into another that TAP supports or convert to Fiat as and when required for monetisation.

As announced on 3 December 2021, Quetzal completed an investment of £1,500,000 in to TAP by way of Convertible Loan Notes (CLNs) and retains an option ("Call Option") to acquire the entire share capital of TAP by way of a Reverse Takeover transaction, pursuant to the terms of any resultant Sale and Purchase Agreement being agreed, within the framework of the Call Option agreement.

John Taylor, Chairman of Quetzal Capital said:

"The activation of this additional capability by TAP is a key milestone in the Platform's development. There is huge appeal in TAP from corporate clients who are eager to exploit the ability to accept payments and make payments in Crypto currencies. Having a robust regulatory framework over TAP added to the security of insured cold-storage custody facilities makes it a compelling proposition for corporates who would otherwise be nervous around taking this step. Providing the Corporate clients with the named fiat banking facilities where fiat can be accessed is the key for a corporate that wanted to accept Crypto but was concerned about not being able to quickly monetise it if required. The TAP platform solves this issue by making the asset easily and quickly convertible to fiat in seconds".

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Quetzal Capital Plc
Fungai Ndoro: [phone]

AQSE Growth Market Corporate Adviser
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
Tel: [phone]

About TAP:

TAP Global is a leading regulated fully integrated Crypto-Fiat exchange service provider with and associated neo banking platform. TAP Global's mission is to create a seamless and fully regulated bridge that links fiat banking, traditional assets and crypto markets (including mainstream crypto currencies such as Bitcoin, ETH, NFTs and other upcoming Defi protocols). Built on its exchange foundation, TAP Global also offers consumer and corporate crypto-fiat banking services and Defi Yield products. Tap Global is one of only a handful of operators which are fully regulated.

TAP Global is licensed and regulated by the Gibraltar Financial Services Commission under the Distributed Ledger Technology (DLT) with license No. 25532. It is an innovative and fully integrated provider of fiat banking and crypto settlement.

TAP Global was founded by Arsen Torosian, a serial fintech entrepreneur and David Carr who has launched numerous fintech products over the last 17 years.

TAP's Website can be accessed at the following link:

https://www.tap.global/gb-en