Tap Global raises £1M to build UK's largest crypto income treasury
What's the deal? Tap Global GroupDealroom has a profile for this one. Try Dealroom → has raised £1 million (about $1.3 million) in an oversubscribed placing, issuing 100 million new shares at 1 penny each. The crypto-fintech will use the funds to build what it aims to make the UK's largest income-generating digital asset treasury.
Who's backing it? Chief executive Arsen Torosian led the raise, subscribing for 17.5 million shares and lifting his stake to 54.5% of the enlarged share capital.
What's the endgame? TapDealroom has a profile for this one. Try Dealroom → plans to expand its digital asset income strategy through its Tap EarnDealroom has a profile for this one. Try Dealroom → platform, which already holds US$5.6 million in income-generating deposits. The placing also issued broker warrants to Cavendish Capital MarketsDealroom has a profile for this one. Try Dealroom → over 2 million new shares, providing potential equity funding over the next five years.
Why now? Admission of the new shares to AIM is expected on September 25, 2026, with trading in ordinary shares resuming after the closure of Tap's Capital Access Window. The enlarged count of 844,609,624 ordinary shares becomes the new basis for disclosure under Financial Conduct Authority transparency rules.
What does Tap do? The regulated firm runs a digital finance hub combining money, payments, and crypto settlement in a single app. It serves more than 400,000 customers across over 25 countries, offering trading in more than 70 cryptoassets, Mastercard spending, and yield through Tap Earn, under a Gibraltar DLT licence and European Mastercard approval.
The signal: The recapitalisation marks a bet on income-generating crypto treasuries as a business model, positioning Tap in the competitive UK crypto-fintech market with its founder holding majority control.
Read more: tipranks.com
Image credit: rkztcxab30
