Business
Tap Earn Update
Tap Global Group plc has announced a successful initial phase for its new Tap Earn product, which offers customers competitive variable yields on cryptocurrency and stablecoin holdings, generating US$3.5 million in Assets Under Management (AUM) and establishing a new recurring revenue stream. This initiative is a key step in the company's strategy to shift revenue generation from transactional activity to assets held on the platform, aiming for greater resilience across market cycles and leveraging its base of over 400,000 registered customers. The company anticipates this yield-based revenue will provide strategic flexibility to compete more aggressively on transactional pricing. Disclaimer*
About this update from Tap Global Plc
[{"type":"text","content":"\n\n18 May 2026\nTap Global Group plc\n(\"Tap\", the \"Company\" or the \"Group\")\nTap Earn Update\nUS$3.5 million AUM in early phase\nFurther to the announcement on 7 May 2026, Tap Global Group plc (AIM: TAP), an innovative digital finance hub that brings money payments and crypto settlement services together in a single user-friendly app, is pleased to provide an interim update on the launch of Tap Earn - a yield product offering the Group's customers competitive variable yields on eligible cryptocurrency and stablecoin holdings, directly within the Tap mobile application.\nSince launch, Tap Earn has achieved Assets Under Management (\"AUM\") of US$3.5 million through customer deposits, activating a new recurring revenue stream for the Company based on yields accrued on AUM.\nStrategic Context and Long-Term Ambition\nTap Earn represents the first material step in the Group's strategic evolution toward yield generation as a major revenue contributor. Cryptocurrency platforms have historically been disproportionately exposed to transactional revenue, which is highly correlated to market volatility and trading volumes. The Board's long-term strategic objective is to build a platform whose revenue base is more closely aligned with assets held on platform rather than exclusively on assets traded - enabling the Group to generate revenue through all phases of the market cycle, including periods of low transactional activity.\nTap Earn is the foundational product in this strategy. By converting passive customer balances into income-generating assets, the Group is able to monetise its existing customer base of over 400,000 registered customers without reliance on trading volumes, and to add a counter-cyclical revenue stream alongside the Group's existing trading and card-related revenues.\nAs recurring yield-based revenue scales, the Board expects this to provide the Group with meaningful strategic optionality on transactional pricing, supporting the Group's longer-term ambition to compete aggressively for retail market share across its peer set.\nNext Update\nThe Group intends to provide its next trading update around the end of its financial year ending 30 June 2026.\nArsen Torosian, Chief Executive Officer of Tap, commented:\n\"Tap Earn is performing in line with our expectations and marks the start of a strategic evolution in how ...