Tap Global Group plc (LSE:TAP), crypto-focused "middleware" fintech, said that its product Tap Earn saw assets under management rise roughly 43% to surpass US$5m as at 15 June, up from US$3.5m on 18 May.
The digital finance hub said the AUM growth was driven by net customer deposits rather than crypto price appreciation, and management framed the move as an early demonstration of the counter‑cyclical, yield-based revenue stream the product was designed to build.
"Customers continued to deposit through the drawdown, which is precisely the behaviour this product was built around: earning a return on what you hold matters most when markets are difficult," said Arsen Torosian, Chief Executive Officer.
Tap has increased customer-facing stablecoin yields from up to 7.0% at launch to up to 8%, and the firm says Tap Earn generates revenue from the spread between gross yields earned by its treasury management programme and the variable yields paid to customers.
The company reiterated that Tap Earn is a high-risk product, is not a bank deposit and is not protected by the Financial Services Compensation Scheme, and warned that access to funds may be restricted under its liquidity framework and customers may lose some or all of their holdings.
