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  • Writer's pictureDavid Manion

Tap Announces the Launch of “Crypto as a Service” for Corporates

Crypto as a Service (CaaS) an innovative service in line with Software as a Service (SaaS) and Banking as a Service (BaaS).

As with other services you may be familiar with, Crypto as a Service which enables companies that are regulated for other activities to use the regulatory status of Tap to offer Crypto related services to their users without having to obtain a license themselves. This acts as a clear advantage, especially in countries that do not offer a license or regulated status for Crypto services.

By using the CaaS provided by Tap many organisations can offer the additional services Tap provides by integrating with the Tap bespoke middleware, this integration would enable organisations to provide these services without the ongoing monitoring, reporting and compliance hassle that they already perform for their current regulated services. Tap employs instruments that are considered some of the finest available to monitor any activity associated with crypto-currencies, including real-time monitoring of the wallets from which assets are originated or to which they are sent. The receiving or sending of funds to certain wallets is restricted if identified as having particular risk alerts, including the sending, or receiving of funds to or from wallets identified as engaging in illegal activity in the relevant jurisdiction.

What are the benefits for the partner organisation?

Each potential partner can define their desired return on investment, effectively allowing the organization to provide real-time trading on multiple crypto-assets at attractive rates for their operations and the customers they serve. Partners can determine the margin applicable to any end-user trading activity and offset a portion of their costs or pass them on directly to the users. Tap provides its corporate partners with appropriate terms and conditions applicable to their users, allowing its partners to tailor them to their needs and those of its users in an appropriate manner.

Tap regulatory status & funds protection.

Tap Global (TAP) who is licenced under DLT by the Gibraltar Financial Services Commission, this licence provides the regulatory permissions to TAP to provide the trading of Fiat to Crypto, Crypto to Crypto as well as Crypto to Fiat. In addition, this license also provides Tap with custodial services for cryptocurrency assets that TAP can provide itself, nevertheless Tap has selected BitGo as the custodial provider for these assets due to the safe custody provided by this company, known as "Cold Storage". As part of this relationship with BitGo, a $100 million USD insurance policy is currently in place, providing further protection in the event that this cold storage is compromised. Find all the detail regarding Tap crypto as a service offering on Tap’s website Here.

Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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