LSE-AIM listed e-banking and international payments firm Equals Group plc (formerly FairFX) has announced a partnership with Tap Global Limited to provide cryptocurrency exchange services to both its B2B and B2C customer bases.
Equals stated that its strategy is to provide multiple payment services across all currencies in a simple, accessible platform. Historically, the available currencies have been limited to ‘Fiat’ currencies (those backed by governments) but with the increasing recent adoption of crypto as an asset class, the Group has now created the capability for its customers to trade into and out of crypto currencies versus fiat currencies. This capability is intended to become part of a wider strategy which would include crypto and decentralised finance (DeFi) for the Group. Further updates on the Group’s positioning in this fast-moving space will be provided when appropriate.
Equals has selected Tap as its first partner, a Gibraltar registered company that is fully regulated by the Gibraltar Financial Services Commission and holds a ‘distributed ledger technology’ (DLT) license. The agreement will initially be on a referral basis, allowing the Group’s customer base to interreact directly with Tap. In the near future Equals plans to enhance the connectivity of its independent platforms, leading to an enhanced and seamless customer experience.
Ian Strafford Taylor, CEO of Equals, said:
“Equals exists to make cross-currency payments easier and cheaper for its customers whilst adhering to the highest levels of compliance and risk control. It is now a logical step for the Group to add a capability to allow our clients to convert into and out of crypto currencies against the fiat currencies. The tie-up with Tap, a regulated and well-accredited partner, allows us to offer just such a service, which provides crypto currency liquidity. We look forward to further positive developments within our digital offering.”
David Carr, Co-Founder and COO of Tap, said:
“Tap, like Equals, has the user experience at the top of our agenda. The Tap products and services can add an additional dimension to the Equals user base. Enhanced future co-operation will only increase the inter-operability of both independent platforms.”