In a press release that was distributed by the company on Jan. 10, it was claimed that cryptocurrency app Tap Global would be the first company to be listed on the Aquis Stock Exchange (AQSE). Tap Global is based in the UK.

The completion of a reverse acquisition by Quetzal Capital was fruitful and led to the listing of the company on the stock market.

Tap provides people living in the UK and the European Union with access to a variety of financial services, including fiat banking, a cryptocurrency exchange service that sources cryptocurrency from partner exchanges, as well as access to staking protocols and DeFi.

The Gibraltar Financial Services Commission acts as if the app is a bank in order to control and regulate it.

To complete the acquisition of the company, Quetzal not only exchanged 20.5 million British pounds ($24.9 million) of its own shares for the Tap Global property, but also issued additional shares worth 3.1 million pounds ($3.8 million) in the company. This money will be used to boost marketing spending and drive global development.

David Carr, the chief executive of Tap Global, acknowledged that the company’s decision to list on a public exchange surprised some. This was due to the fact that the move was made shortly after FTX’s demise and at a time when the cryptocurrency industry is experiencing heightened suspicion.

Tap, on the other hand, concluded that it would go ahead with the listing to offer people living in the UK a regulated alternative.

The FTX failure in November has led to increased vigilance by regulatory bodies and individual clients in their monitoring of apps that facilitate cryptocurrency trading.

Recent reports suggest that the cryptocurrency exchange known as Binance is attracting the attention of regulatory bodies in the United States.

Coinbase, the only cryptocurrency exchange listed on the New York Stock Exchange, has seen a decline in revenue as a direct result of lower trading volumes.