Crypto trading app Tap Global among London’s first public listings in 2023

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Ondons Aquis exchange is set to welcome its first new member of 2023 tomorrow with the listing of crypto trading app Tap Global.

Pending shareholder approval for a reverse takeover by decentralized financial investor Quetzal today, the company, which is regulated in Gibraltar, is set to raise 3.1 million in capital to value it at 30 million when she joins the stock exchange.

Founded by 29-year-old former software developer Arsen Torosian and prepaid card veteran Dave Carr, Tap allows users to trade digital currencies by connecting them to a number of crypto exchanges through its app, and offers its own Mastercard to pay for online purchases using Bitcoin.

Since launching in 2018, Tap has grown to over 100,000 users and now has plans for international expansion into Australia and the United States.

The user growth stands in stark contrast to a number of crypto exchanges, which have nearly collapsed in recent months after users withdrew funds and the price of Bitcoin fell around 54% in one month. year, sparking new fears about the volatility of digital currencies.

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Co-founder and Chief Strategy Officer Torosian said he believes the difficult period for the industry, known as the crypto winter, will last for some time yet: I would like to say [it will end in] 2024 or 2025, but I was most likely looking for a good three to four winter, but I hope I’m wrong.

But CEO Carr was optimistic about the future of Taps despite the headwinds facing crypto companies. He told The Standard: The fact that the crypto market is a bit hot isn’t necessarily a bad thing from our perspective, because the hot people have had very light regulation.

We go the fully regulated route and our due diligence process is strict as you will be able to see our balance sheet and what we do with the assets.

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