TAP Tap Global Group Plc

21 March 2024

Tap Global Group Plc

(“Tap Group” or the “Company”)

Board Changes

Tap Global Group Plc (AQSE: TAP), the regulated crypto app bridging the gap between traditional finance and blockchain technology, announces that Arsen Torosian has been appointed as Chief Executive Officer with immediate effect. The appointment follows the resignation of David Carr as Chief Executive Officer and as a Director of the Company.

Mr Torosian is a fintech entrepreneur and early adopter of cryptocurrencies who co-founded Tap Global Limited, the wholly owned operating business licensed by the Gibraltar Financial Services Commission (“Tap”). He remains the largest shareholder of Tap Group and has been overseeing technology enhancement and international expansion in his previous role as Chief Strategy Officer.

The Company also announces the appointment of Steven Borg as Chief Financial Officer of Tap. Mr Borg’s appointment to the operating business will take effect from 11 April 2024. Tony Quirke, current Chief Financial Officer, is leaving the Company to pursue other opportunities and will continue to operate as Chief Financial Officer and as a Director of Tap Group until Steven’s appointment becomes effective.

Mr Borg has over 20 years’ accounting experience, having held senior roles in the professional services, fintech and payments industries including at PwC, Vega Protocol, Gnosis, and Transact Payments. Mr Borg’s appointment as full-time Chief Financial Officer of Tap strengthens the leadership team in Gibraltar and concentrates the finance function at the operating level. Oversight of the Company’s consolidated financial position will be managed between Mr Borg and the Company’s outsourced financial consultants in the UK.

The resignations of Mr Carr and Mr Quirke have given the Company the opportunity to streamline the structure of the Tap Group Board (“PLC Board”) which will provide governance oversight and direction to the Tap executive management (“Operating Board”). The Operating Board will continue to report to the PLC Board. 

Once all the changes have taken effect, the PLC Board will comprise David Hunter as Non-Executive Chairman, John Taylor as Non-Executive Director, and Mr Torosian as Chief Executive Officer who, combined, have extensive experience in financial services, listed businesses and fintech. Des Hellicar-Bowman, Non-Executive Director of the Company, has resigned with effect from 31 March 2024 to pursue other opportunities.

David Hunter, Chairman of Tap Group, commented:

“On behalf of the Board, I would like to thank David Carr, Tony Quirke, and Des Hellicar-Bowman for their invaluable contributions to the growth and expansion of the business. David has been with Tap since its inception and has worked tirelessly to develop and integrate the full host of capabilities available on the Tap app today. Tony’s efforts in shepherding the Company through its listing and first consolidated audit have been monumental. Much of his recent focus has been on designing the enduring finance structure of the group and ensuring that its foundations have been firmly laid.

We welcome Arsen Torosian and Steven Borg into their new roles. Tap was founded on Arsen’s vision, and he has continued to play a large operational role as we sail through 300,000 users and execute our next growth phase. Steven joins with significant fintech and payments industries experience.”

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries: 

About Tap Global Group Plc

The Tap group of companies provide an innovative and fully integrated fiat payments and crypto settlement service. Our regulatory registration, via the wholly owned operating business Tap Global Limited, and regulatory partnerships, provide Tap customers with access to several major crypto exchanges through the Tap App allowing them to purchase over 48 cryptocurrencies and store them directly in the customer’s wallet. The wallet can also store fiat currency denominated in Sterling, Euros and/or USD.

Through the single app, Tap’s over 300,000 users can access several major cryptocurrency exchanges and, utilising Tap’s proprietary Artificial Intelligence middleware, customers benefit from best-execution and pricing in real time. Through the Tap card (UK and Europe only), users can also convert their cryptocurrencies to fiat to spend at more than 37 million merchant locations worldwide.

Tap is one of only a handful of unified solutions operators fully regulated to provide Distributed Ledger Technology (DLT) services and was the first cryptocurrency FinTech company approved by Mastercard in Europe. 

About Tap Global Limited

Tap Global Limited is registered in Gibraltar with the registration number 118724 and the registered office of Madison Building, Line Wall Road, Gibraltar, GX11 1AA. Tap Global Limited is licensed and regulated by the Gibraltar Financial Services Commission under the DLT with license No. 25532.

Learn more: www.withtap.com

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