Quetzal Capital Plc - Tap Global Launches Crypto-as-a-Service Offering
PR Newswire
London, August 22
23 August 2022
Quetzal Capital Plc
("Quetzal" or the "Company")
Investee Company Update:
Tap Global Launches Crypto-as-a-Service Offering
Quetzal Capital Plc (AQSE: QTZ), a financial technology investment company, announces that its investee company, Tap Global Limited ("Tap"), a fast growing, regulated, fully integrated crypto-fiat exchange service provider with an associated neo banking platform, has launched a Crypto-as-a-Service ("CaaS") product, adding a potentially significant new B2B revenue stream.
Tap's CaaS will enable organisations which are already regulated to offer financial services and products, such as banks, neo banks, and trading platforms, to embed cryptocurrency trading services into their existing customer offering by using Tap's proprietary technology as an engine. Clients will be able to maintain their own branding, tailor Tap's offering to meet their requirements, and operate under Tap's Gibraltar Financial Services Commission regulation.
By using Tap to enhance their offering, future Tap CaaS clients will be able to offer their customers access to the multi-billion-pound cryptocurrency trading market without the timely and expensive outlay of building their own solution and applying for regulated status, which can take up to two years to obtain.
In the UK alone, dozens of neo banks and trading platforms that might want to enter the cryptocurrency market are unable do so due to the high commercial, technological and regulatory barriers to entry. Beyond the UK, Tap's far-reaching regulation will allow it to offer CaaS in the 45 countries in which it operates. Tap's CaaS solution is deployable immediately and Tap is in active discussions with potential clients.
Quetzal has an option to acquire 100% of Tap and has invested £1.5 million in the business by way of a convertible loan.
John Taylor, Chairman of Quetzal, commented: "We invested in Tap because of its massive potential to scale, its regulated status, its unique technology and its integrated approach to providing financial services. The launch of CaaS highlights the value of Tap's regulated status and its intention to become a genuinely full-service fintech provider to both companies and individuals. By adding another potentially significant revenue stream, Tap is pressing its advantage over simple 'buy bitcoin' platforms and enhancing its diversified B2B offering."
The Directors of the Company accept responsibility for the contents of this announcement.
Enquiries:
Quetzal Capital Plc
Fungai Ndoro: +44 (0)20 3813 0175
AQSE Growth Market Corporate Adviser
Peterhouse Capital Limited
Guy Miller / Mark Anwyl: +44 (0)20 7469 0930
Public and Investor Relations
Vigo Consulting
Ben Simons / Charlie Neish: +44 (0)20 7390 0230
About Quetzal Capital
Quetzal Capital was established to invest in high growth companies in the technology, e-commerce, and lifestyle sciences sectors. Recognising the potential of neo banking, AI and DeFi, Quetzal Capital invested in Tap Global, the fast growing crypto-fiat exchange service provider.
Learn more about Quetzal: www.quetzalcapital.co.uk
About Tap Global
Tap Global is a leading regulated and fully integrated crypto-fiat exchange service provider with an associated neo banking platform. Tap's mission is to create a seamless and fully regulated bridge that links fiat banking, traditional assets and crypto markets. Built on its exchange foundation, Tap also offers consumer and corporate crypto-fiat banking services and DeFi yield products.
Tap is licensed and regulated by the Gibraltar Financial Services Commission under its Distributed Ledger Technology Regulatory Framework (DLT) with license No. 25532.
Learn more about Tap: www.tap.global/gb-en
