Tap Global Group plc has reported record revenues in the first quarter of the year.

Described as a digital finance hub that brings money payments and crypto settlement services together in a single app, Tap Global said unaudited revenues for the period are expected to be £991,000, representing year-on-year growth of 40.3% compared to the prior year period.

The firm has a user base of 390,000 people and has now launched a B2B product, Bitcoin Treasury as a Service, which was piloted during the period. The BTaaS platform is an institutional-grade solution designed for publicly listed companies adopting Bitcoin as a primary treasury reserve asset, providing them with global liquidity, fiat-to-crypto conversion and reporting.