Tap Earn Crypto Yield Program Surpasses $8 Million in Assets

Tap Global's crypto yield program, Tap Earn, has reached a milestone of over $8 million in assets under management as of Sunday. This represents a significant increase from its launch on May 18, with assets up 129% and prices rising by 12%. The program has generated approximately $141,000 in cumulative yield revenue since its inception, equivalent to an annualized gross yield of around 7% on committed capital.

Tap Earn offers competitive interest rates, including up to 8.0% annualized on supported stablecoins and 3.5% on ETH. The program has maintained a streak of 20 consecutive weekly payouts to customers without any lock-up periods or early-withdrawal penalties. Tap Global plans to deploy its Digital Asset Income Strategy reserve through the Tap Earn program, which will be initiated with funds from a £1 million placing announced on September 22.

According to Arsen Torosian, Chief Executive Officer of Tap Global, the program is generating over $30,000 monthly as an additional revenue stream for the group. The company will publish monthly reports covering crypto assets held, movements, and yield generated following the first deployment of treasury assets.