#### What is Tap? Tap (XTP) is a [cryptocurrency](https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency) that aims to streamline the experience for participants in the crypto space. It seeks to eliminate financial boundaries by facilitating connections with banks and exchanges. Tap provides a Mastercard to residents of the EU and UK, and it holds a DLT license from the GFSC. It is unique in its sector as it is regulated to hold both fiat and crypto. Tap's primary function is to allow users to deposit fiat currency into the Tap app, from where they can trade various cryptocurrencies on different exchanges using a single app and a single [KYC](https://help.coinbase.com/en/coinbase/managing-my-account/update-my-account/identity-verification-faq) process. #### How does Tap work? Tap operates through an app that allows users to deposit fiat currency and trade various cryptocurrencies. The app aims to simplify the trading process by enabling users to access different exchanges through a single platform. The app also includes a single KYC process, which aims to make the user experience more seamless. Additionally, Tap provides a Mastercard to EU and UK residents, which can be used to spend the assets held in the Tap app. Users can also send any crypto asset to anyone in the world through the app for free, and the recipient can use the asset instantly. #### What are the potential use cases for Tap? Tap has a variety of potential use cases, particularly for those who are active in the cryptocurrency space. It aims to simplify the process of trading cryptocurrencies by allowing users to trade on different exchanges through a single app. This could be particularly useful for those who trade on multiple platforms. Additionally, the ability to send any crypto asset to anyone in the world for free could make Tap a useful tool for international transactions. The provision of a Mastercard to EU and UK residents also allows users to spend their assets in the real world, further expanding the potential use cases for Tap. #### What is the history of Tap? Tap was developed with the aim of simplifying the experience for participants in the cryptocurrency space. It was designed to remove financial boundaries by supporting connections with banks and exchanges. Tap has obtained a DLT license from the GFSC and is unique in its sector as it is regulated to hold both fiat and crypto. Over time, Tap has developed its app to allow users to deposit fiat currency and trade various cryptocurrencies on different exchanges using a single app and a single KYC process.