Tap Global Group plc has reported early momentum for its newly launched Tap Earn product, revealing that the platform has already attracted US$3.5 million in assets under management during its initial rollout phase.
Tap Earn allows customers to generate variable yields on eligible cryptocurrency and stablecoin holdings directly through the company’s mobile application, creating a new recurring revenue stream linked to assets held on the platform.
Management described the launch as an important strategic milestone as the company looks to diversify away from revenue models heavily dependent on trading activity and market volatility.
The board said its longer-term objective is to build a more resilient revenue base tied increasingly to customer assets under management rather than purely transaction volumes, enabling the business to generate income even during periods of weaker cryptocurrency trading activity.
Tap said the product also allows it to monetise its existing customer base of more than 400,000 registered users by converting dormant or passive balances into income-generating assets.
As yield-based revenues expand, management believes the business will gain greater flexibility to compete more aggressively on trading fees and retail customer acquisition within the digital asset sector.
Chief Executive Arsen Torosian said Tap Earn is performing in line with expectations and represents the beginning of a broader strategic evolution for the company.
Torosian added that the company’s long-term ambition is to become a leading retail destination for passive cryptocurrency yield products while maintaining a disciplined cost structure and diversified revenue model.
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