Equals Group plc (AIM:EQLS), previously known as FairFX, announced on Monday its partnership with Tap Global for the launch of a cryptocurrency exchange for both its B2B and B2C client base.
The London-listed company offers a wide range of services that include its international payments business for corporates and a wide network of retail forex services as well. The expansion into crypto came when the company decided to focus on its B2B streams as its retail business took a hit because of the pandemic.
Moreover, the announcement detailed that the addition of crypto liquidity will benefit its strategies of providing multiple payment services across all currencies.
“Equals exists to make cross-currency payments easier and cheaper for its customers whilst adhering to the highest levels of compliance and risk control. It is now a logical step for the Group to add a capability to allow our clients to convert into and out of cryptocurrencies against the fiat currencies,” Equals CEO, Ian Strafford Taylor said in a statement.
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Crypto Services Are in Great Demand
Gibraltar-based Tap is the first crypto partner of the international payments company, which has additional plans to enhance the connectivity of its independent platforms.
“The tie-up with Tap, a regulated and well-accredited partner, allows us to offer just such a service, which provides cryptocurrency liquidity. We look forward to further positive developments within our digital offering,” Taylor added.
“Tap, like Equals, has the user experience at the top of our agenda,” said David Carr, Co-founder and COO of Tap. “The Tap products and services can add an additional dimension to the Equals user base. Enhanced future co-operation will only increase the inter-operability of both independent platforms.”