Hassans Advises Tap Global On Gaining Full DLT Licence Approval
Hassans’ client, Tap Global (TAP), has received full DLT licence approval from the Gibraltar Financial Services Commission.
TAP is a revolutionary crypto trading and payments app. The TAP accounts come with multiple crypto and fiat wallets and will have access to real time crypto trading with numerous exchanges, all assets are held securely in multi signatory “cold storage” wallets or as segregated electronic money accounts with an e-money partner. Customers will be able to add a payment card (virtual and physical) to access funds in real time as well a named bank account in either GBP or EUR depending on the residency of the customer.
Anthony Provasoli, Hassans’ Fintech team Co-lead and lead Partner on the application stated:
“I think Tap has huge potential as it is one of the first fully regulated projects that bridges the gap between crypto and traditional finance. The Cypherpunk movement led to the creation of Bitcoin and the blockchain and, whilst many who follow their way of thinking find it hard to ‘trust’ traditional banks and financial institutions, I think both traditional banks and crypto related service providers have their place at least in the immediate to middle term future.
"It is always rewarding to see our clients receive full authorisation from the GFSC because we see, first- hand, the hard work that is put in during the application process.”
David Carr, Co-Founder and COO of TAP commented:
“Although Crypto related activities are still unregulated in most of the world, here at TAP we took the view that being regulated was the way forward and that most companies in this market will or should be regulated. By gaining this licence the product we are offering is now fully regulated, our e-money partner has the required licences for issuing throughout the EEA as well as the relevant scheme membership.”