Tap Global Group (LSE:TAP) said assets under management in its Tap Earn programme surpassed $9.0 million as at 7 October, up from the $8.0 million reported on 24 September and increased from the $3.5 million recorded shortly after the product's launch in May.
The digital finance platform combines fiat payments with cryptocurrency settlement through its Tap app, and launched Tap Earn in May as a yield-based revenue stream designed to diversify income away from trading volatility.
Cumulative gross yield generated by the programme since launch stands at approximately $157,000, up from around $141,000 reported on 24 September, with around $32,500 of that received in September alone.
Tap Earn has grown rapidly in recent months: assets under management stood at over $5.6 million in late August, up 61% in three months, before more than doubling again to breach $9 million by early October.
"Five months in, and Tap Earn holds more than US$9 million of customer assets, more than double where it stood in May," said Arsen Torosian, Group CEO and co-founder.
He said the product "pays them on those holdings every week", noting it has now delivered 22 consecutive weekly payouts, up from the fifteen reported alongside the company's full-year results in August.
Tap Earn's growth has coincided with the company's build-out of its Digital Asset Income Strategy, a yield-earning reserve of digital assets including Bitcoin and Solana that is deployed through the Tap Earn programme.
Torosian said the company's focus remains on "growing the book and the yield it generates."