Tap Global Deploys First 3 BTC Under Digital Asset Income Strategy
Tap Global Group plc has launched its Digital Asset Income Strategy (DAIS), which aims to generate recurring income from its Bitcoin holdings. The London-listed digital finance firm acquired 3 BTC at an average price of £63,132 each, totaling £189,395 or approximately $83,600 per coin.
The company plans to deploy the Bitcoin reserve via its Tap Earn platform, which currently offers an annual yield of up to 8% on supported stablecoins, 3.5% on Ethereum and 2.5% on Bitcoin. The DAIS balance-sheet reserve will be reported separately from Tap Global's operational digital assets.
The strategy is designed to allow Tap to earn income from treasury assets without relying on Bitcoin sales to finance the wider business, according to Chief Executive Arsen Torosian. The company intends to share additional updates regarding the DAIS reserve's size and performance.