Tap Global's Crypto Yield Program Surpasses $8 Million in Assets
Tap Global's crypto yield program, Tap Earn, has surpassed $8 million in assets under management. This represents a significant increase of 43% from August 20 and 129% since its launch on May 18. The company noted that prices have risen 12% over the same period.
The program has generated approximately $141,000 in cumulative yield revenue since May, which translates to an annualized gross yield of around 7% on committed capital. Tap Earn offers customer rates of up to 8.0% annualized on supported stablecoins and 3.5% on ETH, with no lock-up periods or early-withdrawal penalties.
The company 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. This will allow for monthly reports covering crypto assets held, movements, and yield generated following the first deployment of treasury assets.