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Tap Global to launch in US

Source: Tap Global

Tap Global Group Plc (AQSE: TAP), the regulated cryptocurrency app bridging the gap between traditional finance and blockchain technology, is pleased to announce its intention to launch in the United States, via its wholly owned subsidiary Tap Americas, through a partnership with Zero Hash LLC (“Zero Hash”), a Chicago-based B2B2C crypto infrastructure platform.

The US is the world’s largest cryptocurrency market, estimated to account for 48% of the global market growth between 2022 and 2027, with 17% of all US adults having invested in cryptocurrencies. As previously announced, Tap incorporated a US entity earlier this year but maintained a prudent approach to market entry given the legal complexities inherent in launching in the country, focusing instead on European growth, the launch of several B2B initiatives and the strengthening of its leadership team.

Through this partnership with Zero Hash, a well-established and regulated US entity, the Company has now identified a pathway to launch in the US whilst ensuring the requisite regulatory coverage for the new US business and the Company as a whole.

Tap has built a significant waiting list in the US, which has 45 million active cryptocurrency users, and the Company is now able to provide customers with access to 24 digital assets, including major global cryptocurrencies BTC, ETH, XRP and USDC. Utilising Zero Hash’s building blocks of liquidity, custody, and settlement, Tap will be able to facilitate P2P transfers and crypto swaps, with users able to deposit crypto from an external wallet, withdraw crypto to an external wallet, and earn crypto rewards.

The partnership with Zero Hash will also enable Tap to launch a fiat-to-crypto on-and-off-ramp later in 2023. Tap’s customers will in due course be able to buy and sell crypto via ACH (Automated Clearing House) bank transfers.

David Carr, CEO of Tap Global Group Plc, commented:

“We are excited to be working with Zero Hash and to be launching Tap in the United States. The US is the biggest cryptocurrency market in the world but has also suffered from the impact of bad actors in the market. Tap will offer its new users a secure, regulated and innovative alternative to the platforms currently falling under regulatory scrutiny for their imprudent approach to the safety of consumers and their digital assets.

In Zero Hash, we have found a well-established partner that shares our regulation-first approach and will be able to provide us with a platform for establishing a significant presence in the US.

With over 200,000 registered Tap users already, the US launch, expected in Q4 2023, will pave the way for further expansion into additional countries, including Canada and Australia.”

Edward Woodford, CEO of Zero Hash, added:

“Tap has established itself as a leading money app in Europe, onboarding hundreds of thousands of users to the crypto economy.

We are pleased that Tap has chosen to partner with Zero Hash for their expansion to the US, reinforcing our position as the most trusted and sophisticated B2B2C crypto-as-a-service infrastructure for global innovators.”

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