Tap Global Group has announced a partnership with Moorwand, a UK FCA-regulated Electronic Money Institution (EMI), to integrate Moorwand’s Banking-as-a-Service (BaaS) platform, allowing Tap users to access GBP and EUR accounts with dedicated Sort Codes, Account Numbers, and individual IBANs.

This collaboration is intended to advance Tap’s objective of becoming a comprehensive digital banking hub and its vision for a “FinTech Super App” that integrates traditional finance with the digital asset ecosystem. By leveraging Moorwand’s payment infrastructure, Tap aims to address the dependency of digital asset users on external bank accounts for funding their operations.

The integration introduces new functionalities, including dedicated IBANs and account numbers, which enable users to receive payments directly and fund their Tap accounts without requiring intermediaries. Additionally, the enhancement of payment rails through Faster Payments and the Single Euro Payments Area (SEPA) is designed to provide faster and more dependable deposit and withdrawal services. This streamlined functionality is expected to enhance trust, usability, and transaction volumes within the Tap ecosystem.

Tap’s next strategic phase involves the introduction of direct third-party payments, such as salary deposits, which will be rolled out incrementally to a select group of users before a full launch. This feature is intended to position Tap as a more complete financial services provider.

Arsen Torosian, CEO of Tap, stated, “This move fundamentally elevates the Tap product from a specialised crypto-led application to a versatile financial account, capable of serving a user’s everyday banking needs – accelerating the journey towards becoming a holistic digital banking alternative. The Moorwand partnership provides the regulated, scalable infrastructure essential for our next phase of growth and serves as a launchpad for our most transformative feature yet: direct salary deposits. We are not just participating in the future of finance; we are actively building it on a foundation of innovation and regulatory integrity, creating a platform with the potential for scale that is robust, secure, and trusted.”

Luc Gueriane, CEO of Moorwand, commented, “Moorwand’s mission is to transform compliance into an enabler of innovation, and our partnership with Tap is a perfect embodiment of that vision. We are providing the critical, regulated payment infrastructure that allows pioneering companies like Tap to build the next generation of financial services, merging the worlds of payments and digital currencies in a compliant and secure manner. We have been impressed by Tap’s clear strategic vision and their commitment to building a user-centric platform that adheres to the highest regulatory standards. We are excited to partner with them as they redefine the relationship between traditional finance and digital assets, and we look forward to supporting their continued growth and innovation.”