Tap n Go (TAP) is a cryptocurrency-based debit card that ensures you can spend cryptocurrencies “wherever Mastercard is accepted.”
Streamlining the process
As of the 25th of this month, TAP is in partnership with Transact Payments Limited (TPL) to make this so. According to a press release, the project has constant access to multiple cryptocurrency exchanges:
“The TAP accounts with multiple crypto and fiat wallets and will have access to real time crypto trading with numerous exchanges, all assets are held securely in multi signatory “cold storage” wallets or electronic money client accounts.”
Thanks to this, the group is able to provide constant exchanges between fiat and crypto, alongside crypto to crypto trading pairs. Also, the card pairs with an app on your phone to give you constant access to your wallet. From here, you can manage which currencies your card has access to. That and you can convert your assets to make sure you’re spending the ones you want.
Moreover, TAP is awaiting a DLT license from the Gibraltar Financial Services Commission. Arsen Torosian, CEO of TAP, made a comment on this partnership:
“The launch of TAP has been in the making for a number of years, our partnership with TPL for our provision of the TAP Prepaid Mastercard was the final piece of our vision. We are delighted to have TPL as our partner for this product”
A long time coming
It seems that TAP wants to replace your traditional bank entirely, however. Not only does it allow for fiat to crypto, but you can also cash out your currencies at an ATM. As of now, the card is compatible with ATMs in “over 200 countries around the world.”
Kriya Patel, MK of TNL, also made a comment on the project:
“TPL are delighted to be supporting the TAP Prepaid Mastercard project and look forward to continuing to work with such an initiative partner like TAP with the roll out of their in-demand solution.”
This project is ideal for long-term enthusiasts and those into day trading. That and it’s also for those who just want their crypto to be a little bit more accessible.