17 October 2022
Quetzal Capital Plc
(“Quetzal” or the "Company")
Investee Company Update:
Tap Global Launches GBPT Stable Coin on its Platform
Quetzal Capital Plc (AQSE: QTZ), a financial technology investment company is pleased to announce that its investee company, Tap Global Limited (“Tap”), a regulated, fully integrated crypto-fiat exchange service provider with an associated neo banking platform, has launched the GBPT stablecoin (“GBPT”) as an asset available for trading on its platform.
GBPT is issued solely by pountoken.io (“poundtoken”), operating from the Isle of Man and regulated by the FSA. GBPT is backed 100% with sterling fiat deposits and is audited monthly by KPMG to ensure this backing. GBPT was launched by poundtoken in July 2022 and allows direct GBP access to digital asset markets and facilitates frictionless real-time settlements.
The inclusion of GBPT adds to the other stablecoins available on Tap’s platform which enhances the foundation for Tap to offer ‘interest bearing’ deposits, through staking yields, with the help of Decentralised Finance.
The following crypto assets now trade on Tap’s platform:
Tap’s over 100,000 registered users will benefit from the same trading functionality with GBPT that they benefit from with other assets, including the ability to trade any two assets using Tap’s proprietary, AI-powered middleware which automatically and seamlessly filters through multiple exchanges in real time, to achieve the best trading rates.
John Taylor, Chairman of Quetzal Capital, said:
“It is encouraging to see Tap continuing to make progress across a number of fronts including the broadening of its offering of available assets and the rapid onboarding of new users. The incorporation of GBPT greatly enhances Tap’s foundations for users to deposit assets in ‘earn wallets’ which we believe will continue to drive the significant user growth on Tap’s growing platform.”
Reverse Takeover of Tap Global
As announced on 3 December 2021, Quetzal completed an investment of £1,500,000 in to Tap by way of Convertible Loan Notes and retains an option (“Call Option”) to acquire the entire share capital of Tap by way of a Reverse Takeover transaction, pursuant to the terms of any resultant Sale and Purchase Agreement being agreed, within the framework of the Call Option agreement. The management teams of Quetzal and Tap continue to work diligently towards securing this mutually beneficial outcome.
The Directors of the Company accept responsibility for the contents of this announcement.
Quetzal Capital Plc
Fungai Ndoro: +44 (0) 203 813 0175
AQSE Growth Market Corporate Adviser
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
Tel: +44 (0) 207 469 0930
Public and Investor Relations
Ben Simons / Charlie Neish: +44 (0)20 7390 0230
About Quetzal Capital
Quetzal Capital was established to invest in high growth companies in the technology, e-commerce, and lifestyle sciences sectors. Recognising the potential of neo banking, AI and DeFi, Quetzal Capital invested in Tap Global, the fast growing crypto-fiat exchange service provider.
Learn more about Quetzal: www.quetzalcapital.co.uk
About Tap Global
Tap Global is a leading regulated and fully integrated crypto-fiat exchange service provider with an associated neo banking platform. Tap’s mission is to create a seamless and fully regulated bridge that links fiat banking, traditional assets and crypto markets. Built on its exchange foundation, Tap also offers consumer and corporate crypto-fiat banking services and DeFi yield products.
Tap is licensed and regulated by the Gibraltar Financial Services Commission under its Distributed Ledger Technology Regulatory Framework (DLT) with license No. 25532.
Learn more about Tap: www.tap.global/gb-en
GBPT is the first British-Isles regulated GBP stablecoin. poundtoken.io is the sole issuer of the GBPT. Monthly attestations are provided by KPMG to ensure GBPT is 100% backed in GBP at all times.
Learn more about GBPT stablecoin and poundtoken.io: https://resources.poundtoken.io/