Tap Global

Tap Global Group plc, listed on the AIM exchange, has adopted a Digital Asset Income Strategy. The strategy, known as DAIS, aims to generate yield from a reserve of digital assets. According to Arsen Torosian, Group CEO and Co-Founder, the Board believes this is the right time to build a long-term reserve, accumulating assets at a significant discount to the peak, with income from the first deployment.

The DAIS will be funded from the Group's existing cryptoassets, surplus funds generated by the operating business, and equity issuances. The Board and senior management are locked in over approximately 63% of the issued share capital until March 2029. A monthly DAIS report will be published, setting out the cryptoassets held, movements in and out of the DAIS, and the yield generated.

Strategy Highlights

The Tap Earn programme has generated an annualised gross yield of approximately 7% on committed capital to date. Bitcoin trades more than 30% below its October 2025 all-time high, and the Board is establishing the reserve at prices significantly below the peak. The DAIS will be funded from the Group's existing cryptoassets of £1.75 million at 30 June 2026, surplus funds generated by the operating business, and equity issuances.

Yield Generation

The Group generates yield through various methods, including staking of eligible proof-of-stake assets, collateralised lending of digital assets and stablecoins, supplying capital to funding markets of established exchanges, and establishing lending pools. The yield will be available to reinvest and/or to cover the costs of the operating business, freeing revenue to reinvest in organic growth and customer acquisition.

Governance and Risk

The DAIS will operate under a detailed policy document, designed as a risk management and reporting framework. The policy establishes board oversight and reporting, total investment and transaction limits, leverage limits, deployment limits, approved counterparties, and custody arrangements. The material risks include market risk, yield risk, counterparty risk, and venue and protocol risk. According to the source, Finextra, the DAIS is intended to generate income from the deployment of digital assets while preserving capital over the medium to long term. However, there can be no assurance that the strategy will achieve either objective.

The accounting treatment for the DAIS will reflect the income statement and the balance sheet, allowing investors to assess the operating performance of the DAIS separately from market movements in the assets it holds. Cryptoassets held under the DAIS will be recognised on the balance sheet as intangible assets under IAS 38 and measured at fair value by reference to active-market prices. The source report provides more details on the accounting treatment and risk factors associated with the DAIS. The Group's existing cryptoassets and surplus funds will be used to fund the DAIS, with equity issuances used to expand the reserve as needed.