Since launching the Tap app, the company released their token and within days XTP was trading on Bittrex Global, a leading blockchain trading platform. Since its launch on the platform on 23 December, 2019, the cryptocurrency has experienced gains of over 2500%, extremely rare in the industry, even outperforming Bitcoin in a one month analysis.
Gibraltar, February 4 Tap, a Fintech based in Gibraltar, has recently launched a cryptocurrency app, with a Tap prepaid card. The launch is expected to happen in Q1 2020, leaving crypto traders on high alert and stacking XTP in anticipation.
It is believed the token’s success is driven by investor’s preparation for the launch of both the Tap app and Tap card. The Tap app acts as both a crypto exchange and trading platform, offering traders unique benefits such as their bespoke smart-trade technology and cold storage wallet facilities. The smart trade technology facilitates trading crypto and fiat pairs on several top exchanges, presenting the traders with the best prices, as well as instant liquidity on said trades. This technology is also behind the unique functioning of the Tap card.
Having received an in-principle approval for the DLT license by the Gibraltar Financial Services Commission, the Tap card allows users to spend their crypto and fiat currencies around the world, in conjunction with the Tap app. Set to launch in the next coming weeks, applications are still open on the official Tap website.
The Tap app is available for download from the App Store and Google Play.
If you would like more information on the Tap, please find the website and whitepaper here, alternatively you can contact x at x.
Tassat Is One Step Closer to Offering Crypto Derivatives With CFTC Approval
Tassat Derivatives has successfully acquired a swap execution facility (SEF) registration after securing regulator sign-off.
The U.S. Commodity Futures Trading Commission (CFTC) announced Thursday that it had approved the transfer of a SEF registration from trueEX LLC to Tassat on Nov. 6, nearly four months after the two companies reached an “agreement in principle.” TrueEx was first granted the registration in January 2016.
Tassat, formerly known as trueDigital Holdings, said in July that it was looking to launch a “fully-regulated” cryptocurrency derivatives exchange in the U.S., on which it would offer customers physically-delivered bitcoin swaps and other products.
At the time, Tassat CEO Thomas Kim said “adding the exchange to our ecosystem delivers a complete end-to-end offering, currently unavailable today, that encompasses tokenization, payments, market data and settlement for the benefit of our clients and partners.”
“TrueEX and Tassat met the requirement for transferring a SEF registration by demonstrating that Tassat will be in compliance with provisions of the Commodity Exchange Act and CFTC regulations applicable to SEFs after the registration is transferred. There are currently 19 registered SEFs, including Tassat”, Wednesday’s press release said.
Tassat, founded in early 2018, has been an active participant in the crypto community. The company helped Signature Bank build its Signet blockchain payments platform, launched last December. More recently, the company partnered with software provider AlgoTrader to offer institutional clients access to its upcoming crypto derivatives.
The company has also partnered with Inca Digital Securities and Kaiko to offer wider access to its over-the-counter bitcoin and ether reference rates.
With Wednesday’s approval, Tassat is one step closer to offering clients a trading platform for its products. The company is still waiting to secure the designated contract market (DCM) registration trueEX also held.
The company is looking to compete with LedgerX, Bakkt/Intercontinental Exchange, Seed CX and ErisX in looking to offer physically-settled bitcoin derivatives products to U.S. customers.
