This summary of the video was created by an AI. It might contain some inaccuracies.
00:00:00 – 00:27:54
The video features discussions around Tap, a mobile app integrating payments and cryptocurrencies, and its founder, Arson Troian. Tap targets the fintech space with services like crypto trading, prepaid cards, and virtual banking. The regulatory challenges of operating in the US market are highlighted, as well as Tap's partnerships with companies like Mastercard and Bitfinex. The platform's regulated nature ensures security for users. Tap's growth is fueled by revenue and user expansion, influencer marketing, and organic growth strategies. The utility of the XTP coin within the ecosystem, competitive advantages over traditional Mastercards, and global expansion plans are also key topics. The video praises Tap's innovation and teases forthcoming developments, urging viewer engagement and anticipation for future episodes.
00:00:00
In this segment of the video, the hosts introduce the founder of tap, Arson Troian, who discusses how tap is a mobile app that integrates payments and cryptocurrencies. Tap offers the ability to trade cryptocurrencies, have a prepaid M card, and a virtual iband for easy bank deposits and withdrawals. While tap is often compared to crypto platforms like Binance and Coinbase, its main focus is on the fintech space where competitors include Revolut, WeChat, and Alipay. Arson Troian shares his background of initially being in the gaming industry before transitioning into the crypto space, highlighting how his experiences have contributed to tap’s success.
00:03:00
In this part of the video, the speaker describes how he transitioned from a day-to-day job to cryptocurrency brokering on a platform called local Bitcoins, eventually becoming a top broker in the UK. Due to the need for scalability, he developed the idea for Tap in 2015-2016 to automate and integrate payment services and crypto trading into one platform. The discussion shifts to Tap’s entry into the heavily regulated US market, detailing a 14-15 month journey to secure a partnership with a regulated entity called Zero Hash to comply with US regulations, with the recent announcement of this development.
00:06:00
In this segment of the video, the discussion revolves around the massive impact of Tap on the US crypto market, which is projected to experience significant growth. There is a focus on the regulatory environment in the US, with concerns about overregulation potentially stifling innovation in the industry. The conversation touches on the SEC’s actions against Coinbase and the hope for a more free-market approach to foster growth within the crypto space in the US. It is highlighted that Coinbase, despite facing regulatory challenges, remains a significant player in the market, showing the complexities of the regulatory landscape. The hope is for a more favorable environment for crypto innovation in the US.
00:09:00
In this part of the video, the speaker discusses partnerships with major companies such as MasterCard and Bitfinex in the cryptocurrency space. They were the first prepaid Mastercard partner in 2018 after extensive approval processes. The collaboration with Mastercard has been positive, emphasizing compliance and support. They also worked with Bitfinex for their card program, showcasing their ability to deliver on promises. Partnering with established brands like Mastercard gives trustworthiness and credibility, making people more inclined to explore the company. The video highlights the importance of these partnerships at a time when other providers like Binance were discontinuing their MasterCard programs.
00:12:00
In this segment of the video, the speaker discusses the importance of offering a card option in crypto to make it more accessible to a wider audience. They emphasize how being fully regulated changes the vetting process for the coins and projects allowed on the platform. The speaker explains that token listing involves stringent criteria such as demand, safety, utility, and liquidity. They highlight that a committee reviews the use case and potential concerns before adding a coin to the platform. The regulated nature of the platform ensures that “shitcoins” cannot be added, offering users security and trust.
00:15:00
In this segment of the video, the speaker discusses the importance of numbers such as revenue growth and user growth in driving institutional adoption and investor interest. They highlight that their revenue has more than doubled from 8.9 million pounds to 22.5 million pounds over a year. They have surpassed 200,000 users in Europe and continue to add new tokens to their platform. The growth is attributed to influencer marketing and referral initiatives, as they have focused on organic growth and reinvested revenues into the business. Their goal is to sustain this growth trajectory.
00:18:00
In this segment of the video, the discussion revolves around a company that faced issues due to a failed return on investment, struggling sales, and reliance on influencer marketing. The focus then shifts to the utility of the XTP coin within the ecosystem, highlighting fee reduction benefits based on membership levels, increased card spending limits for high-volume traders, a 25% fee reduction model, and the quarterly burning of collected fees. The XTP coin aims to provide users with various benefits and services within the Tap platform, catering to both traders and users new to cryptocurrency.
00:21:00
In this segment of the video, the speaker discusses the competitive advantage of using the platform’s XTP to access rewards compared to traditional Mastercards. They highlight the “Cards as a Service” feature, where they have successfully run a card program for over three years without issues and Bitfinex is becoming one of their first clients. The platform offers expertise to help other exchanges launch their own card programs. Additionally, the speaker emphasizes the robust security measures implemented in the app, such as facial recognition, email verification, and phone verification to prevent unauthorized access. They also mention implementing a block for certain software on users’ phones to prevent fraud.
00:24:00
In this segment of the video, the speaker discusses the features of a platform called Tap that help address concerns of potential cryptocurrency users about scams, fraud, and complicated platforms. The platform aims to simplify the process by offering a single solution for multiple functions, eliminating the need for multiple apps. The speaker also mentions Tap’s plans for global expansion, introducing new features such as support for multiple currencies and cross-border payments. The platform aims to become a global company and provide services to users worldwide. The speaker highlights the collaboration with MasterCard for a cross-border payment product, emphasizing the convenience it offers to users in terms of trading and converting cryptocurrencies into local currencies.
00:27:00
In this segment, the speaker commends Tap’s impressive work and notes their expansion into America will attract significant attention. The interview wraps up with a thank you exchange and an invitation for viewers to engage further by leaving comments and reviews about Tap. Viewers are encouraged to stay tuned for the next episode, suggesting it will be exciting.