REG - Tap Global Group PLC - Launch of Tap Earn

Tap GlobalAnnouncement

Thu 07:00

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RNS Number : 3020D  Tap Global Group PLC  07 May 2026

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MARKET ABUSE REGULATIONS. UPON PUBLICATION OF THIS ANNOUNCEMENT VIA A
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DOMAIN.

7 May 2026

Tap Global Group plc

("Tap", the "Company" or the "Group")

Launch of Tap Earn

A yield product offering customers up to 7.0% on supported stablecoins

 

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, today announces the full 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.

 

Tap Earn generates revenue from the spread between the gross yield earned by
the Group's treasury management programme and the variable yield paid to
participating customers. The product is designed to contribute incrementally
to Group revenue. Revenue from Tap Earn will depend on, among other factors,
customer take-up, asset mix, prevailing yield environment and the matters set
out under "Important Risk Information" and "Forward-Looking Statements" below.

Highlights

·    Industry-leading customer yields: Tap Earn offers variable
customer-facing yields of up to 7.0% on supported stablecoins, up to 3.5% on
Ethereum and up to 2.5% on Bitcoin - among the highest published rates
currently available in the retail crypto-yield market.

 

·    Now live on the Tap App: Tap Earn has successfully exited a
controlled early-access phase and is now generally available to eligible
customers in all the Group's markets, other than the United Kingdom, which is
expected imminently subject to completion of the relevant final approvals.

 

·    Flex-only withdrawals, fully integrated: withdrawals are flex-only,
meaning customers can withdraw as much or as little as they wish with no
lockups, no notice periods and no early-withdrawal penalties. The product is
fully integrated within the existing Tap mobile application.

 

·    Self-funded product-level scaling: the Tap Earn revenue model is
designed to contribute to Group operating cash flows from launch and to fund
customer acquisition for the product line without requiring additional
funding.

 

·    Trading update with early-access performance metrics to follow: a
separate trading update covering early-access performance metrics for Tap Earn
(including customers, assets under management ("AUM") and annualised revenue
run-rate to the Group) is expected to follow in due course.

 

 
The Tap Flywheel
 

Tap Earn is intended to support a self-reinforcing growth loop for the Group:

 

1.  Customers deposit into Earn - the Group earns a spread on deployed
capital.

2.  Spread revenue contributes to Group operating cash flows.

3.  Operating cash flows fund continued customer acquisition for the Tap Earn
product.

4.  Additional customers contribute additional AUM, additional spread revenue
and additional operating cash flow.

 

The Board notes that the rate at which the cycle compounds is dependent on
customer take-up, conversion economics, the prevailing yield environment and
the matters set out under "Important Risk Information" below.

Yield Source

The Tap Earn yield is generated through a treasury management programme
operated by the Group. Specific counterparties, venues, custody arrangements
and yield strategies are not disclosed in this announcement for
commercial-confidentiality reasons. The product is subject to the risks set
out under "Important Risk Information" below.

 

Arsen Torosian, Chief Executive Officer of Tap, commented:

"Tap Earn is a deliberately designed product offering our customers highly
competitive yields in the retail crypto-yield market. The unit economics
behind those rates are the result of a specific programme structure - yield
from our treasury management programme, defined customer-facing rates and
controlled cost-to-serve - rather than of any one cohort. We tested the design
through a controlled early-access phase before launching, and we look forward
to providing the early-access performance metrics in a separate trading update
in due course.

 

"The product is now live across all our markets, other than the UK which we
expect to follow imminently, subject to completion of final approvals. The Tap
Earn revenue model is designed to be incremental to the Group's existing
revenue base. Our priority from here is execution: scaling Earn across our
existing customer base."

 

Important Risk Information
 

Tap Earn allows customers to generate variable returns on cryptoassets by
deploying them in the Group's treasury management programme. The product is
high-risk for customers and creates specific financial risks for the Group
itself. The risks summarised below are not exhaustive and should be read
together with the risk factors set out in the Group's most recent annual
report and interim results.

 

Risks to Customers

Customers face two principal risks. First, customers may not receive the
indicated yield, yields are variable, are not guaranteed and may at any time
be reduced (including to zero), whether at the Group's discretion or as a
result of market conditions. Second, digital asset prices can fall
significantly, and a customer's overall position may lose value
notwithstanding any yield received.

 

In addition Tap Earn is not a bank deposit and is not protected by the
Financial Services Compensation Scheme ("FSCS") or any equivalent deposit
guarantee scheme in any jurisdiction in which it is offered. Customers may
lose some or all of their holdings.

 

Access to funds may be restricted in periods of market stress under the
Group's pre-defined operational liquidity framework, with withdrawals
potentially queued on a rules-based basis.

 

This announcement and the product information referred to herein do not
constitute financial advice or a personal recommendation. Customers should
consider their own circumstances and, where appropriate, seek independent
advice before depositing.

 

Risks to the Group

The Group bears a series of specific financial, operational and reputational
risks in operating Tap Earn. Materialisation of any of the following could
result in reduced or eliminated Tap Earn revenue, direct losses to the Group,
increased costs, customer attrition or impairment of the Group's broader
franchise.

 

Spread compression / yield-environment risk

The Group's revenue from Tap Earn is the difference between the gross yield
earned by the treasury management programme and the variable yield paid to
customers. A sustained decline in gross programme yield, or competitive
pressure requiring higher customer-facing rates, could compress or eliminate
the Group's net spread, reducing or eliminating Tap Earn revenue irrespective
of assets under management.

 

Counterparty default risk

The treasury management programme deploys customer assets through third-party
counterparties. The default or failure of any such counterparty could result
in losses on assets deployed by the programme. While the Group is not
contractually obliged to make customers whole for counterparty losses, the
Group may, in practice, choose to do so in order to maintain customer trust,
with direct financial cost to the Group.

 

Liquidity and withdrawal-stress risk

Elevated customer withdrawals - for example in a market stress event - could
require the Group to unwind underlying programme positions at unfavourable
prices, resulting in realised losses.  While the Group is not contractually
obliged to make customers whole for such losses, the Group may, in practice,
choose to do so in order to maintain customer trust, with direct financial
cost to the Group.  The Group's pre-defined operational liquidity framework
is designed to mitigate but cannot eliminate this risk.

 

Operational and technology risk

Errors, system failures, mispricing, accounting or reconciliation failures, or
security incidents in respect of Tap Earn could result in losses, and
operational disruption to other Group products.    While the Group is not
contractually obliged to make customers whole for such losses, the Group may,
in practice, choose to do so in order to maintain customer trust, with direct
financial cost to the Group.

 

Regulatory and enforcement risk

Tap Earn operates within an evolving regulatory environment for crypto-asset
yield products. Adverse regulatory developments, enforcement actions,
restrictions on the offering of yield products in particular jurisdictions, or
changes to product-authorisation requirements could result in product
suspension, fines or other financial impact on the Group.    While the
Group is not contractually obliged to make customers whole for losses arising
in such circumstances, the Group may, in practice, choose to do so in order to
maintain customer trust, with direct financial cost to the Group.

 

Reputational and franchise risk

Tap Earn is offered through the same Tap mobile application as the Group's
existing payments and trading products. An adverse event affecting Tap Earn -
whether attributable to the Group or to the wider crypto-asset sector - could
result in customer attrition, loss of partner relationships (including with
payment networks and banking partners) or impairment of the Group's broader
franchise, with revenue impact extending beyond Tap Earn itself.

 

Concentration risk

As Tap Earn scales, it may come to represent a material proportion of Group
revenue. Concentration of revenue in a single product line increases the
Group's exposure to any of the risks set out above.

 

Litigation and customer-claim risk

Customers who suffer losses (whether of yield or of principal value) may bring
claims against the Group, including in jurisdictions whose consumer protection
or financial services laws are applied to the product. Defending or settling
such claims could result in financial cost and management distraction.

 

This list is not exhaustive. Further risk factors applicable to the Group as a
whole are set out in the Group's most recent annual report and interim
results.

 

 

Enquiries:

 Tap Global Group plc

 Arsen Torosian, Chief Executive Officer                     via Vigo Consulting
 SPARK Advisory Partners Limited (AIM Nominated Adviser)     +44 (0)20 3368 3555

 Andrew Emmott / Angus Campbell
 Cavendish Capital Markets (Joint Broker)                    +44 (0)20 7220 0500

 Adrian Hadden / George Lawson (Corporate Finance)

 Dale Bellis / Jason Trill (Sales & Corporate Broking)
 AlbR Capital (Joint Broker)                                 +44 (0)20 7469 0930

 Gavin Burnell / Jon Belliss / Colin Rowbury
 Vigo Consulting (Investor Relations)                        +44 (0)20 7390 0230

 Ben Simons / Amelia Thorn / Georgina Moul                   tapglobal@vigoconsulting.com (mailto:tapglobal@vigoconsulting.com)

 

Investor website:  investor.tap.global (https://investor.tap.global/)

 

About Tap Global Group plc

 

Tap Global Group plc bridges the gap between traditional finance and
blockchain technology. It offers over 400,000 registered individual and
business customers an innovative and fully integrated fiat payments and
cryptocurrency settlement service including access to several major
cryptocurrency exchanges. Through the Tap app, customers can trade over 70
cryptocurrencies and store them directly in their customer wallet, while
benefiting from proprietary AI middleware for real-time best-execution and
pricing.

 

Tap Group's European business, Tap Global Limited, was the first
cryptocurrency FinTech company to be approved by Mastercard in Europe.
Through the Tap card, European users can convert their cryptocurrencies to
fiat and spend at more than 37 million merchant locations worldwide.

 

Tap Group's operating subsidiaries

 

Tap Global Limited serves the European customer base and is registered in
Gibraltar and licensed and regulated by the Gibraltar Financial Services
Commission under the DLT with licence No. 25532.

 

Tap's Bulgarian subsidiary has been granted a VASP registration by the
National Revenue Agency of Bulgaria in order to qualify for the EU MiCA
regulations grandfathering provisions.

 

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/tapglobal/
(https://www.linkedin.com/company/tapglobal/)  |
X: https://x.com/TapGlobalPlc (https://x.com/TapGlobalPlc)

 

 

Definitions

 

·    "Treasury-as-a-Service" means the Group's planned institutional
offering, under which professional clients are expected to be able to access
the same managed yield programme through dedicated sub-accounts. The product
has not yet launched and any reference in this announcement is
forward-looking.

 

·    "Variable yield" means a customer-facing yield rate that the Group is
entitled to adjust from time to time at its discretion, including in response
to market conditions, programme performance and regulatory considerations.

 

 

Forward-Looking Statements

 

This announcement contains forward-looking statements, including (without
limitation) statements regarding the expected launch of Tap Earn in the United
Kingdom (including the timing thereof), the expected publication of a trading
update containing early-access performance metrics, the launch of
Treasury-as-a-Service, the reproducibility of the unit economics of Tap Earn
at scale, the Group's ability to fund the scaling of the Tap Earn product from
operating cash flows, the Group's broader strategic framework, and the
structural differentiation of the programme's risk framework. Forward-looking
statements are subject to known and unknown risks and uncertainties (including
those described under "Important Risk Information" above), and actual outcomes
may differ materially from those expressed or implied. Forward-looking
statements speak only as at the date of this announcement and the Company
undertakes no obligation to update them, save as required by applicable law or
regulation. Nothing in this announcement should be construed as a profit
forecast.

 

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