Tap Whitepaper

Sunday, February 9, 2020
Download document
Save for later
Add to list

White paper Tap into the future ONE STOP SHOP FOR CRYPTO & FIAT White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

2 Abstract Tap is the one stop shop for anyone involved, or looking to get involved, with Crypto. Predominantly, Tap is an exchange app which will let you trade on major crypto exchanges within the Tap app. With one KYC (Know Your Customer) process you can trade any supported crypto asset on any major exchange. Complete any trade with a touch of a button and, due to the unique way Tap provides liquidity, your trade is executed and fulfilled instantaneously. Tap provides a seamless link with modern banking facilities and Tap into Simplicity major crypto exchanges. New customers can come on-board for free with fiat or This whitepaper contains forward- cryptocurrencies. looking statements that are based on the beliefs of Tap N Go, as well as certain The Tap app comes with a free Tap assumptions made by and information Prepaid Mastercard linked to your available to Tap N Go. account. Choose any crypto asset that you hold in Tap to fund any card purchase The project as envisaged in this with your Tap Prepaid Mastercard. The Tap whitepaper is under development and token can be used for discounted fees is being constantly updated, including or staked for better card and user terms. but not limited to key governance and With monthly Tap token burns (see page technical features. Accordingly, if and 20), Tap token holders will benefit from when the project is completed, it may increased token exclusivity. differ significantly from the project set out in this whitepaper. No representation or Development of the Tap app and warranty is given as to the achievement infrastructure has been underway for or reasonableness of any plans, future around 2 years. We aim to launch the app projections or prospects and nothing in at the end of the token sale around the this document is, or should be, relied upon same time as the TGE. Our aim is to have as a promise or representation as to the a fully functioning product with XTP token future. utility inside the app in 2nd quarter of 2019. Laid out in this whitepaper is how we will deliver an app and token with this much functionality. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

3 Table of contents 1.0 Tap vision of the future. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 04 1.0 Who is tap for? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 05 1.1 The new investor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 06 1.2 The familiar investor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07 1.3 The crypto adopter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 08 1.4 The international traveller. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 09 2.0 Current limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 3.0 How tap works . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 3.1 Tap’s proprietary middleware makes this possible . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 3.2 Tap’s hot wallets and liquidity pool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 3.3 Tap’s cold storage of customer assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 4.0 Tap use cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 4.1 User case 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 4.2 User case 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 4.3 User case 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 4.4 User case 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 5.0 How tap earns fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 6.0 The tap token . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 7.0 Tap cards & currencies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 7.1 Supported currencies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 8.0 Tap features & the app . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 9.0 Competitive landscape. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 9.1 Analysis of key competitors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 10.0 Risks to the investor & mitigations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 10.1 Competition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 10.2 Project owners rest on their laurels following initial raise . . . . . . . . . . . . . . . . . . . . 39 10.3 Payment card services being revoked. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 10.4 Fraud and data theft. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 11.0 State of the crypto market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 12.0 The team . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 12.1 Advisors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 13.0 Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 14.0 Regulation & partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 14.1 Tap future & opportunities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 14.2 Disclaimers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4 1.0 Vision of the future White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

1.0 5 Who is Tap for? With an intuitive user interface and broad access to crypto exchanges, the Tap app will make buying and trading cryptocurrencies far more accessible than previously possible. In time, Tap will become the familiar solution for the entire sector as it will provide unrivalled broad access to tradable cryptocurrencies, whilst simultaneously making them spendable through the Tap card. Tap’s proprietary middleware does all the hard work for the Tap user. Constantly 1 Transaction limits will be dictated by our card issuer. 2 Tap will start with three crypto currencies and three fiat scanning the prices of crypto trading currencies, however, the aim is to quickly add more and pairs across major exchanges as well as even further down the road be able to support all fiat currencies and all major exchanges. crypto-to-fiat pairs, it will find the best price available with any combination. The middleware can do this across major Additionally, we deliver all this with a Tap exchanges and supported currencies, Prepaid Mastercard for your convenience, meaning that as Tap’s user base allowing users to use any asset to pay for increases, inefficiencies in the market will anything, be it a coffee or a holiday. Tap be eliminated. aims to breakdown financial borders and allow any user to send any fiat or crypto Yet, for the Tap user, they will just asset to anyone, anywhere in the world for experience being shown the best price free (subject to terms and conditions¹ ²), for their trade. Tap believe in one trusted, and to have that asset instantly available instinctive and all-encompassing portal to spend. where anyone can store, manage and spend any fiat or crypto asset. We believe our vision is vital to mass adoption of blockchain currencies and is what the crypto sector is crying out for. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

1.1 6 Who is tap for? The new investor Anyone who has introduced a friend to crypto knows what an alien process it can be on their first time. They go to a site to buy BTC (for a high commission), then if they want to buy any other currency, they need to set up an exchange account and become familiar with the process immediately. They need to understand wallets, how to make a transfer, place an order (and ensure the order is fulfilled). Often, the new investor also needs a separate wallet as some exchanges do not let you hold funds. Each stage of the process attracts fees, transaction costs and commissions With TAP, after a simple registration (including hidden costs such as spreads). and KYC process, a new investor can fund their account with a bank transfer (as they are provided with a sort code, Costs compared to Coinbase when account number, IBAN and reference) instantly buying $1000 of BTC. or debit card payment for free. Once funded, they can buy any supported cryptocurrency at a spot rate for a maximum fee of 1.5% through the app Coinbase TAP at a touch of a button and hold crypto 3.99% 1.5% in their balance. For the new investor there is no process as simple and transparent as Tap. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

1.2 7 Who is tap for? The familiar investor Even investors who are familiar with the buying process still face frustrations when managing their crypto assets. They suffer the same problems and costs as the new investor, with additional problems when they want to move from an alternative currency (ALT1) to another alternative currency (ALT2). Currently, the investor needs to sell ALT1 into BTC (or ETH) before buying ALT2 with the acquired BTC (or ETH). They may also need to move funds from one exchange to another to complete the trade. Fees and commissions are charged on each transaction and, depending on the selling strategy, can take time to fill and require The investor can continue his day close management. without closely managing two trades. There is currently no exchange that With Tap, a customer can complete AND offers instant ALT to ALT fulfilment fulfil any trade in under three seconds. combined with cross exchange/ Even when this trade is performed across currency arbitrage4 to ensure the best exchanges! Any supported currency (fiat possible price. or crypto) can be used to purchase any other supported currency at a spot rate 3 Instant fulfilment. Tap will hold sufficient liquidity pools and fulfilment is instant3. in every crypto and fiat currency that supports all the major exchanges. This means that if someone wanted to make a trade across exchanges (e.g. sell ALT1 on Exchange 1 to buy ALT2 on Exchange 2), Tap will use its liquidity pool to complete both sides of the trade on each exchange. This will leave the liquidity pool temporarily imbalanced until a backend reconciliation is complete, whereby funds are moved out of the user’s cold storage and back to the relevant exchanges. The middleware also reads the order books of all exchanges so that when it delivers the price to the customer, it is specified that the trade will complete instantly (as those orders are waiting to be filled). 4 The middleware will search every combination to complete a trade. Therefore, when performing an Alt 1 to Alt 2 trade, all possible combinations of fiat and crypto pairings will be calculated, essentially searching for inefficiencies in the market that would benefit our users in terms of getting them a better price. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

1.3 8 Who is tap for? The crypto adopter Anyone who has spent a significant amount of time in crypto is likely to have a large proportion of their disposable assets tied up in cryptocurrencies. This raises two concerns for the crypto adopter. The first is security. When much of your wealth is digital, you need to know it is secure. Tap eliminates security concerns by storing all customer assets in multi-signatory cold/offline storage, widely considered the highest level of protection (for more on security, see section on page XX). Tap solves this problem in two ways. The second concern is day-to-day utility of crypto assets for spending. Currently, if Convert any amount of any supported the adopter wants to free up crypto assets cryptocurrency into any supported fiat for purchases or bills, you need to sell your currency and it appears instantly in asset into BTC, then sell BTC to fund your your TAP account. bank account. Or, just use the Tap card provided Getting the best commission rates to make any payment and your requires minimum transaction sizes, which designated crypto asset will instantly may mean selling more of your crypto be debited at a spot rate for a low fee asset than you wish and missing out on (with full cross exchange/currency possible gains if your crypto asset value arbitrage). You can even withdraw increases. Additionally, each transaction cash from an ATM using crypto assets. incurs costs. Your crypto assets as currency has never been easier or cheaper. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

1.4 9 Who is tap for? The international traveller Whether a regular traveler or not, we all suffer from punitive exchange rates and/or bank fees. Some traveler cards are available, but none have the versatility of Tap and offer such favorable terms. Tap currently supports three fiat currencies with more to be added shortly. Any traveler can now convert fiat, or any supported crypto asset, into their desired currency at the touch of a button. With fiat to fiat conversions, any Tap customer can do this for free, up to a minimum of £10005 (depending on card level) a month and is only charged 0.5% after that6. Take your Tap card abroad and avoid banking charges and unfavorable commission spreads. (Please note: Tap card is topped for you by Tap, so there is no need to manually top up your card). 5 The allowances are based on which TAP card level. There are three possible levels which give allowances of £1000, £3000 or unlimited free currency transfers. More information on cards can be found on page xx. 6 The Tap card is a Prepaid Mastercard, however, when keeping assets in your wallet or a fiat balance, this is not loaded onto the card. Therefore, you can take your prepaid card abroad. When you use your card, Tap has already prepaid it and will only approve transactions after checking your balance, when using your TAP card abroad. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

10 2.0 Current limitations White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

2.0 11 Current limitations of using crypto for payments Very few vendors accept payments using cryptocurrency. This is because: There is a cost involved with converting cryptocurrency to fiat, which they would need to charge unless their suppliers also accepted crypto. The vendor would need additional point of sale equipment, which is unlikely to justify the cost. Perhaps most importantly, the time it takes for a transaction to be confirmed on blockchain (around 10 mins for BTC) is highly impractical as it would require both vendor and customer to wait in the shop. Cryptocurrency prices are currently very volatile, making accepting crypto risky for the vendor. In order to use cryptocurrencies for mainstream payments, the world needs to instantly convert any cryptocurrency to fiat and transfer that fiat at the point of sale via a Tap card. Tap provides this service. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

12 3.0 How tap works White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

3.0 13 How tap works Any seasoned crypto investor Exchange any alternative is familiar with the laborious cryptocurrency without KYC processes when setting up having to move funds from multiple exchange accounts. one exchange to another. Soon, that will become a thing of the past as every major crypto exchange can be accessed through a single app. Find the best market price instantly on your phone. This brings several advantages to the crypto investor: All your crypto assets are kept in one safe place that you can view anytime. 3.1 Tap’s proprietary middleware makes this possible Tap will hold accounts with every Access to the order books of major crypto exchange and scan their order books exchanges ensures customers receive the to find the best price. It then delivers the best possible price. Similarly, through Tap’s best price through the Tap app. With just FX provider, the same process takes place one click you’ll be able to exchange any when using fiat currency. As Tap will link crypto asset from one exchange to any all exchanges and have an FX provider, crypto asset on any other exchange, the middleware will perform arbitrage completely eliminating the need to across currencies or exchanges on behalf move assets across exchanges. of the customer. The user can see the rate charged and, if happy, can proceed via the app.* *Sometimes, the same asset can have a different price depending on the exchange. This is caused by liquidity issues or general market inefficiencies. Exchange/currency arbitrage is when every possible variation of a trade, be it through different crypto assets or fiat currencies, is calculated to provide the best price for the customer. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

14 3.2 Tap’s hot wallets and liquidity pool TAP holds balances with exchanges and with our electronic money issuer Transact Payments to facilitate instant fulfilment. This allows the middleware to execute any trades instantly without having to wait for funds to be moved. Now, any trade can be completed and fulfilled in less than 3 seconds and card purchases are possible with converted crypto assets. 3.3 Tap’s cold storage of customer assets Tap keeps all customer assets in offline/cold storage behind a multi- signature wallet with the highest grade security. This gives customers peace of mind that their assets are secure. Transactions are run through the hot wallets/liquidity pool, with funds adjusted in the customer’s cold storage account to return funds to the liquidity pool. With our partnership with BitGo, we have our cold storage insured for up to $100M White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

15 4.0 Tap user cases White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.1 16 User case 1 Using ETH to pay for a shop purchase Customer 1 cold storage GBP 6 Central liquidity pool ETH 4 Holds CRYPTO & FIAT 3 ETH Middleware Searches orderbooks of all exchanges to 5 get the best price for the customer. GBP 2 7 “Ping!” It will cost you 0.25 ETH for £199 Network exchange White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.1 17 User case 1 Using ETH to pay for a shop purchase The process: As Tap’s liquidity pool holds multiple fiat currencies, Robert could Robert checks his GBP balance on his TAP App and 1 have done this same sees that he does not have enough GBP for the transaction in any fiat transaction currency. Meaning that it would have been just Robert decides to exchange some of his ETH to 2 as easy to buy the jacket pay for the jacket abroad in the skiing resort. In time, Tap token The middleware searches all exchanges to find investors and holders will 3 benefit from additional the best GBP/ETH price for the customer 7. economies of scale. Robert presents his card at the vendors terminal As volumes grow, Tap 4 will have the ability to and the transaction is authorised against the balance in his Card Wallet execute both sides of the transaction – especially in popular pairings. This The ETH/GBP trade exchange rate is presented to will avoid the need to pay 5 Robert and once accepted is executed and the exchange fees, thereby backend reconciliation process will take place. increasing margins GBP will be taken from the exchange to replenish which can be passed on the GBP taken from Tap’s liquidity pool (held with to the user. There will be the card provider). ETH is returned to the exchange no visible difference to from Tap’s liquidity pool, returning the exchange the Tap user. balance to its original state. ETH is taken from the customer’s account in cold 6 7 Robert can check the ETH spot price just before he makes the purchase. storage and returned to the central liquidity pool The price quoted to him at that time so that all of Tap’s liquidity pools are returned to will be the price that can be executed. However, this price might not be the their original state, leaving only the customer’s exact price that the transaction is cold storage account in debit. settled at, due to the market moving up or down between checking the price and presenting the card. The customer accepts the changes in A notification is sent to Robert as a receipt, letting price, however, as the transactions 7 are performed instantly, any change him know the final cost of his jacket in GBP7. in price will be minimal. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.2 18 User case 2 Paying with GBP whilst abroad Customer cold storage 7 2 GBP EURO Hot wallet 6 liquidity pool EURO GBP 5 Holds CRYPTO & FIAT Tap FX 3 Provider 1 Middleware Searches orderbooks of all exchanges to 4 get the best price for the customer. App 8 Network “Ping!” exchange White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.2 19 User case 2 Paying with GBP whilst abroad The process: Robert changes the settings in the Tap app to 1 fund purchases with GBP 2 He presents his Tap card to the bar. During the payment process, the middleware 3 will check Robert’s Tap account balance to ensure he has sufficient funds. Once funds are confirmed, the middleware 4 executes the GBP/EUR trade via the FX provider. At the same time, the transaction is completed, 5 and the vendor receives EUR from the card provider liquidity pool. By way of backend reconciliation, the FX provider 6 receives GBP from the central liquidity pool and in return sends EUR back to the liquidity pool, thus returning the balance held with the FX provider back to its original state. GBP are taken from Robert’s cold storage 7 account to replenish the central liquidity pool. A receipt notification is sent to Robert’s phone 8 telling him how many GBP that round cost him. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.3 20 User case 3 Selling ‘Alt 1’ and buying ‘Alt 2’ Sell 1 x Alt 1 1 Alt 1 1.2 x Alt 2 3 Buy Alt 2 Confirm 4 Hot wallet Middleware liquidity pool ALT 2 ALT 1 5 6 Customer cold storage ALT 1 ALT 2 Exchange 1 2 ALT 1 / BTC • BTC / ETH Exchange 2 ETH / ALT 2 • BTC / ETH Exchange 3 BTC / ALT 2 • ETH / BTC Exchange 4 Exchange network ALT 1 / ETH • ETH / BTC White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.3 21 User case 3 Selling ‘Alt 1’ and buying ‘Alt 2’ The process: In the Tap app Robert selects which currency to 1 If Robert wanted to sell (Alt 1) and which to buy (Alt 2) buy BTC with GBP, the middleware would also The middleware sees that there is no direct Alt 1/ look up BTC prices in 2 Alt 2 pairing on any exchange. However, both Alt 1 other fiat currencies as and Alt 2 have pairs with BTC and ETH on different well as the exchange exchanges. The middleware then calculates the rate between GBP and best rate Bob can receive via any combination of these other currencies. possible trades as detailed below: A. Alt 1 > BTC > Alt 2 If for some reason there B. Alt 1 > ETH > Alt 2 was low liquidity with C. Alt 1 > ETH > BTC > Alt 2 GBP and BTC, then a D. Alt 1 > BTC > ETH > Alt 2 more favourable rate The middleware undertakes these comparisons could be achieved by in an instant, ensuring the user obtains the changing GBP into best price available, without having to spend another currency (e.g. considerable precious time manually checking EUR) and then into BTC. the options. The middleware therefore performs 3 The middleware shows the best price to Robert. arbitrage on behalf of the customer to deliver the absolute best rate 4 Robert confirms that he is happy to proceed. available. The Trade is executed, and Alt 1 is transferred 5 from the liquidity pool to restock the exchange balances, whilst Alt 2 is sent by the exchange to the liquidity pool. Alt 1 is debited from the customer’s cold storage 6 account to rebalance the liquidity pool, with Alt 2 being credited to the customer’s account from the liquidity pool. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.4 22 User case 4 €50 cash exchanged for GBP sent directly to the account’ €50 Send = Jane £45 £45 2 4 1 Hot wallet Middleware liquidity pool 6 3 Customer cold storage £45 from 5a 5b Bob Jane’s Tap FX Bank Provider White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

4.4 23 User case 4 €50 Cash exchanged for GBP sent directly to the account’ The process: 1 Jane gives Robert a €50 note. Robert uses the Tap app to view 2 the exchange rate. Through Tap’s FX provider, the middleware 3 instantly gives Robert the best possible exchange rate (e.g. €50 = £45) 4 Robert instructs the app to send Jane £45. The £45 is sent to either: 5 a) Jane’s bank account. Jane receives GBP meaning that she doesn’t have to pay exorbitant bank fees or punitive exchange rate spreads. b) Jane’s Tap account. £45 is taken out of Robert’s cold storage account 6 as part of the backend reconciliation to replenish the liquidity pool. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

24 5.0 How tap earns fees White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

5.0 25 How tap earns fees One of the key drivers of user growth will be that fiat banking and card services are free of charge with Tap. Tap generates fees when cryptocurrencies are bought or sold, including when using a crypto asset to fund a fiat card purchase. The fee for any crypto transaction will be between 0.5% and 1.5% depending on the type of transaction, the more popular the exchange pairing the lower the transaction fee. Users can opt to pay the fee in Tap tokens, which as we’ll explain a little later, gives the user a 25% discount A customer will be charged a fee if they on the transaction fee. perform any of the following tasks: • Buy a crypto asset with fiat from A fee of 0.5% is generated when converting their account fiat to fiat, if the customer exceeds normal monthly use (see TAP card section • Buy a crypto asset with another for normal monthly use). This remains crypto asset significantly below standard banking • Make a purchase on their card charges, and lower still if this where a crypto asset is used to fund fee is paid with the Tap token (as users the purchase. gain a 25% discount on fees if they pay with the Tap token). Additionally, Tap also earns interchange fee on all card transactions. The interchange fee is the fee charged to the vendor and is shared between the vendors bank, the card provider and Tap. Tap will realistically expect an average of 0.2% of the total transaction amount. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

26 6.0 The tap token White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

6.0 27 The tap token At Tap, we feel it is important that the value of the token is securely anchored to the success of the project. We believe investors can take confidence from these 4 features: Tap token can be used to pay transaction/exchange fees and receive a 25% discount. This will encourage users to hold Tap tokens in their wallet, thereby benefiting from the reduced fees. When the value of the Tap token increases, in line with wider adoption and increased usage, the user will see the fiat value of their Tap token holding increase. This may encourage them to increase their holding of Tap tokens. Customers buying, holding and using Tap will bolster the value of the Tap token. As the project expands and gains more customers, it is expected that Tap holdings will increase. Stake Tap tokens for higher card level and better user terms. Staking is when you freeze tokens for a set amount of time. During this time, those tokens can’t be used or withdrawn until the staking period is complete. A user can stake certain amounts of Tap tokens to receive a higher card level and enjoy better user terms. The amount staked for each card can be seen in the following section. Staked tokens encourages upward pressure on the token value. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

6.0 28 The tap token Monthly Tap token burning. Each month, 10% of the profits created by the Tap project will go into burning Tap tokens. This will permanently reduce the total supply of tokens putting upward pressure on the token value. The Tap token will become more exclusive with each passing month. This method has been employed by Binance, and their coin (BNB) has seen an increase of value of over 1400% since it was first listed in July 20178. 8 https://coinmarketcap.com/ Tap will mint an ERC20 token with ticker currencies/binance-coin/ listing price XTP to serve as a utility token in the on 25th July to 7th June Tap app, the token will be divisible to 8 decimal places. The issuer is Tap n Go Ltd Gibraltar. After generation, the XTP token is freely transferable and is free of any third- party rights, liens or obligations, or any other restriction on the right of transfer. All announcements regarding the token will be made on the website and disseminated through official Twitter and Telegram channels. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

29 7.0 Tap cards & currencies White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

7.0 30 Tap cards & currencies Tap card – available to everyone • Contactless prepaid card • £1000 free fiat FX exchange (0.5% after) • £500 free ATM withdrawals (2% after) • 0.5 - 1.5% crypto exchange fees (25% discount if fees are paid with Tap) Tap Black Account – if the user stakes 100,000 Tap tokens for Titanium TAP Account – if the 6 months user stakes 500,000 TAP tokens • Contactless prepaid card for 6 months • £3000 free fiat FX exchange (0.5% after) • TAP plastic contactless prepaid card • £1000 free ATM withdrawals (2% after) • Unlimited FIAT FX exchange • 25% discount on crypto exchange fees • Unlimited withdrawals at ATMs of 0.5 - 1.5% (increasing to 50% if fees are • Cost price crypto exchange fees paid with Tap) TAP is currently evaluating the provision of a Metal version of the card for Titanium account holders, this card is still under review White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

7.1 31 Supported currencies On launch, Tap will support three cryptocurrencies (BTC, ETH, LTC) and three fiat currencies (USD, EUR, GBP). Shortly after launch, TAP will expand these supported currencies to any cryptocurrency with a daily traded volume of $1m+ and the top 14 fiat currencies supported by the card scheme. If an external project has a token that they would like Tap to support, they can do so by supplying Tap the liquidity to support the currency (an amount in fiat and their own tokens) and commit to sending Tap a number of users. As Tap will support the currency before the users are sent, a deposit will need to be paid by the external project which will be refunded once the registered user agreement has been reached. This will benefit both the external projects (as new buyers can easily buy their tokens) and Tap (as it will have increased the number of supported tokens and gain more members by doing so). White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

32 8.0 Tap features & the app White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

8.0 33 Tap features & the app In TAP’s user-friendly app the user will be able to: See their fiat and crypto Stake their Tap to gain balances. a better card. Determine which of their See their virtual card details currencies they use to make and make online purchases. TAP card payments. Instantly buy any supported Choose when to lock/unlock crypto at the touch of a their Tap card and view button for a low commission. their PIN Exchange any currency Access other security features (fiat or crypto) for another like turning on location currency (fiat or crypto) security so that their card instantly at the touch of a can only be used in close button. proximity to their phone, etc. With their Tap card, users can make Instantaneously send any purchases anywhere Mastercard is crypto (or fiat) to another accepted and withdraw cash from Tap user for free. ATM machines in over 200 countries around the world. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

34 9.0 Competitive landscape White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

9.0 35 Competitive landscape With a total cryptocurrency sector market capitalization of $293 billion9, and an estimated 24 million users of cryptocurrency10 all wanting easier exchange processes and simplified access to their crypto assets, it is not surprising that competitors to Tap already exist. The market has proven that it also recognizes the value of such projects with two competitors reaching peak token market caps of $550m and $250m, and one business valuation of $1.4bn. We consider these projects to be either incomplete or inferior to Tap. After analyzing all competitors in the market (including Monaco, Metalpay, TenX, STK token, Revolut, Tokencard and WireX), we believe that a genuine competitor to Tap must have the following features to This leaves just Monaco and Revolut achieve mass market adoption: as real competitors to Tap. As only one project is functional right now, we have gathered information about them 1. Allow easy onboarding with fiat for through their website and whitepapers the purchase of cryptocurrencies. (information gathered to the best of our 2. No requirement for merchant opt-in knowledge at the time of going to press, (where a merchant needs to change their terms may have changed). their current method of taking payments to accommodate the 9 Source: coinmarket.com cap on 30th July 2018 10 Source: https://www.statista.com/statistics/647374/ project). worldwide-blockchain-wallet-users/ 3. Ability to spend any supported cryptocurrency (not just BTC, ETH or the project token only). 4. Provide a physical card for point of sale payments and ATM withdrawals. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

9.1 36 Analysis of key competitors MONACO Revolut TAP Free Free Free Use of ATM (up to $200) (up to £200) (up to $500) Easy on-board with FIAT Yes Yes Yes Free Card Yes $15/card Yes Market Cap Peak $250m No Token To be seen 1 touch Alt to Alt No No Yes exchange Transfering crypto into Yes No Yes and out of the ecosystem Project success link Weak No Token Yes to token value One project worth mentioning here is TenX. At their peak, their token market cap was $550m. We omitted them from the competitive table as there is no easy onboarding with fiat for the purchase of cryptocurrencies. However, investors can take encouragement from their peak market cap (which has dropped considerably since their Visa cards were revoked). White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

9.1 37 Analysis of key competitors Revolut is probably the most well-known competitor to Tap (certainly in Europe) and has recently seen their value go up five fold in one year, to a company valuation of $1.4bn11. Whilst Revolut made its name as a travel app, they now offer the option of buying and exchanging crypto assets. However, there are limitations as Revolut does not support external transfers of crypto. This means that you are unable to onboard with crypto or send your crypto outside the Revolut ecosystem. Investors should seek a strong direct link This essentially means that if you already between the project success and the have crypto, Revolut is not your solution. token value, meaning project owners only We believe these limitations will lessen benefit at the same time as investors Revolut’s appeal to the 24 million people and proportionately. Investors who stake who currently use crypto12. TAP’s other a minimum amount of Monaco receive main advantage over Revolut is the lack additional benefits, however we believe of subscription costs (Revolut charges that there is a weak correlation between £6.99 to unlock crypto utility). Tap offers all project success and token value. the services Revolut offers but with higher utility, more features and less cost to the There is currently no investment end user. onboarding for Revolut as there is no token attached. We believe that much Monaco provides more features to the of the increase in market cap of tokens crypto user than Revolut and offers many attached to similar projects to Tap has of the same features as Tap. However, we been speculative and exposes investors are yet to see evidence that Monaco will to greater levels of risk than Tap. What be able to provide instant exchange at makes Tap so exciting to an investor is point of sale with the card. Perhaps the the stronger direct link between project main advantage of Tap against Monaco success and token value (as seen in Tap is the fiat-to-crypto fee charged. At the Token section on page xx). time of publication, Monaco charge 4.5% commission for fiat-to-crypto exchange which in our opinion would make them 11 Source: https://www.recode.net/2018/4/11/17219352/ revolut-dst-global-financing-valuation-digital-banking uncompetitive when trying to capture 12 Source: https://www.statista.com/statistics/647374/ the 815,000 new crypto adopters each worldwide-blockchain-wallet-users/ month13. 13 Source: https://www.statista.com/statistics/647374/ worldwide-blockchain-wallet-users/ calculated as the Q1 from 2018 divided by three to get the average monthly increase. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

38 10.0 Risks to the investor & mitigations White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

10.1 39 Competition We have addressed Tap’s current competitors, but we acknowledge the potential for future market entrants. Tap’s proprietary middleware, market-leading customer offer and ability to seamlessly move between alternative and fiat currencies provides a service that crypto users and frequent travelers alike are demanding. This will drive adoption from both groups and gives Tap a key “first- mover” advantage over future competitors. The systems to provide these services are difficult to replicate, yet Tap will continue innovating. Along with additional features and user benefits as Tap scales, the resultant cost efficiencies will be shared with users. When you combine this with stringent ongoing quality assurance procedures, we believe any serious competitor would find it more favorable to purchase the Tap project rather than to build a competing product. 10.2 Project owners rest on their laurels following initial raise There are numerous examples of projects generating significant interest at launch and failing to build on their foundations, or certainly at a reasonable rate. This raises concerns about the motivation of a project once they have their raised money. The Tap project is different. The public raise will only happen once we have a minimum viable product ready. Therefore, the team and owners of Tap can only be compensated for their efforts when the service is ready. For more information about the raise, please see token generation event on page xx. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

10.3 40 Payment card services being revoked Followers of projects like TenX and WireX have seen card services revoked, even after issue. This is because Wavecrest, their card issuer, issued cards outside of their jurisdiction in the convention of guidelines specified by Visa. For WireX, who had already performed $1.5bn in transaction volume, this proved disastrous for their 1.5 million users (N.B. WireX was not featured in our competitive analysis as their customers can only hold BTC and would need to convert into fiat manually to make a payment. We do however take encouragement from their user numbers and transaction volumes). Visa and Mastercard have subsequently issued strict guidelines for crypto projects to follow, whereas previously there weren’t any, which led to confusion in the market. Better guidelines from Visa & Mastercard and our choice of card issuer Transact Payments (with an excellent record of guideline compliance) mean that we believe we have mitigated this key risk. 10.4 Fraud and data theft Any company offering money services and accepting debit card deposits may find itself targeted for fraud or data theft. Tap has taken every measure possible to protect against this risk. These measures include the highest-level KYC registration (provided by industry leader W2 Global Data), the highest level of PCI DSS compliance from all Tap’s partners and making sure no sensitive customer data is stored by Tap. On top of this, Tap will only accept debit card deposits from 3D secure cards meaning that if the transaction is fraudulent, Tap is not responsible for reimbursement. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

41 11.0 State of the crypto market White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

11.0 42 State of the crypto market The crypto market suffered a large correction in early 2018 which raised questions about the long-term health of the market and whether this will affect Tap. Our team believes the correction was a necessary (and temporary) response to an over-paced expansion in the second half of 2017. It is, however, important to see how Tap would benefit during any market cycle. User trends point to increases in new crypto investors during rising markets. Therefore, our marketing During periods of prolonged market will focus on new investors and existing stagnation, spending of crypto assets investors keen to increase their holdings has lower opportunity cost which will during bull runs. Tap is especially well encourage a rise in crypto-to-fiat card placed to service these users. transactions. In falling markets, Tap allows customers to move straight from crypto- Tap offers by far the easiest and most to-fiat at the touch of a button with instant transparent onboarding process, together fulfilment and the lowest transaction costs. with the lowest fiat-to-crypto transaction fees. More experienced investors will look Investors can then choose to invest fiat for a place where they can seamlessly in other assets or maintain liquidity in navigate between multiple currencies anticipation of buying opportunities that to benefit from more dynamic market present themselves. Therefore, no matter conditions. Tap’s unique one touch Alt to the market conditions, Tap provides the Alt exchange is the obvious choice for easiest, most cost efficient and seamless more seasoned and sophisticated crypto service to the market. Tap generates investors. exchange fees in all market conditions. With a dynamic and adaptive marketing strategy for every market condition we can gain market share and boost usage which will help bolster the price of Tap token. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

43 12.0 The tap team White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

12.0 44 The tap team FOUNDER & CEO – Arsen Torosian Arsen started software development at the age of 14. From the age of 16-20, he moved into app development focusing on iOS, and built a successful app development company from the ground up. In 2012, one of his developed apps became a top three downloaded game in the USA, and won a 2012 Hack Battle by TNW. Arsen then took a keen interest in cryptocurrencies and became a broker and trader of Bitcoin. He sold his successful brokering company shortly before starting the Tap project. Chief Operating Officer and MLRO– David Carr David has been employed in the payments sector since 1991 and for the last 15 years has and been involved in the launch of over 65 E-Money/ Card products for both the corporate and consumer markets. In 2008 David founded a niche consultancy business EU Prepaid to provide services to the Prepaid and Fintech community within or looking to enter the prepaid card market. David has been MLRO for a number of UK FCA regulated business’s over the past 10 years. Chief Technology Officer – Mike Anderson Mike founded his own software development company in 2009 and has since delivered hundreds of bespoke software products. His success has seen him gain an SME App Of The Year award in 2016, and was a finalist in the BBBA Entrepreneur Of The Year: Rising Star Award. Mike brings a team of eight permanent coders to the project who have all worked with financial product apps as well as crypto wallets in the past. Chief Compliance Officer – Christopher Wawn Chartered Manager, Cert CII, PFS Christopher is a Chartered Manager with a wealth of corporate experience at institutions like Barclays, Lloyds TSB and AMB- AMRO. Chris has a strong financial services background with an understanding of the regulatory environment positions. Christopher has an extensive track record of delivering good corporate governance, understands risk and is comfortable in making difficult compliance decisions. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

12.0 45 The tap team CMO – Peter de Guingand Peter started his own marketing consultancy firm in 2010 and since then has worked to help many other start-up online businesses find success. This experience has made him very versed in what a business needs to get right to take the next step. CDO – Richard Simpson Before joining the team, Richard worked as a Solutions Architect for a leading UK IT security company. Richard designed and delivered multi-million-pound IT security solutions to public sector clients. Helping to deliver not only infrastructure but also solution messages to the client’s customer base, ensuring customer satisfaction. Financial Advisor to the board – Lucy Ivison Since graduating in 2006 with a Mathematics Degree, Lucy has held financial positions both in the UK and overseas. She has furthered her education by obtaining an MSc in Financial Economics and has the CIMA qualification. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

12.1 46 Tap advisors Graham Rodford Graham is a qualified accountant with over 18 years experience in financial services. Prior to Archax, Graham was COO, CCO and Partner at Omni Partners, a $1.4billion hedge fund based in London, where he was responsible for all operational activities and compliance. Graham has worked in both crypto and traditional markets and has also run operations for an $8billion alternative investments business. Liam Robertson CFA, CAIA Liam is one of the largest individuals and corporate traders of cryptocurrencies in Europe and the Middle East. As a Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA), he established one of the world’s first regulated cryptocurrency hedge funds in 2016. As founder and CEO of Alphabit Limited, Liam now advises a number of funds, family offices and groundbreaking Blockchain enterprises. Neil Patel Neil is a New York Times Bestselling author. The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 marketers, and Entrepreneur Magazine says he created one of the 100 most brilliant companies. Neil was recognized as a top 100 entrepreneur under the age of 30 by President Obama, and a top 100 entrepreneur under the age of 35 by the United Nations. Alex Rusnak Alex Rusnak has years of engineering and investment experience in blockchain and was an early investor in Bitcoin (2011) and Ripple (2013) as well as a number of early successful ICOs and alt coins. Alex spends most of his time now doing technical advising to early blockchain companies. Prior to joining the blockchain revolution, Alex was an engineer in Silicon Valley start-ups and worked in Private Equity and Venture Capital funds. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

47 13.0 Security White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

13.0 48 Security All customer crypto assets will be kept in offline/cold multi-signature wallet and is insured by Lloyds for $100M USD. This is in line with market-leading security. Additionally, Global Processing Services our Card Processing Partner this results in our customers benefiting from their market leading anti-fraud detection. Location-based fraud protection. If the location of your card is different from the location of your phone, the card can be blocked (turned on/off by the customer in the app). Deactivation of the card can be done in the app so that if you lose your card or are not using it for a while it can be stopped to prevent fraud. You can turn the ability to do ATM withdrawals or online payments on/off in the app. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

49 14.0 Regulation & partners White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

14.0 50 Regulation & partners Taps Regulatory Licenses Tap chose Gibraltar as a domicile because it offers what we believe to be the best developed regulatory framework for businesses providing services in the sectors Tap wishes to operate in. Gibraltar is a British Overseas Territory and a member of the EU by virtue of its association with the United Kingdom. The DLT regulatory framework in Gibraltar provides Tap the opportunity to apply for a DLT Provider licence which would enable Transact Payments Ltd (TPL) Tap to operate its DLT business within a TPL have a wealth of experience, built over regulated environment. Such a regulatory the last 20 years, as a licensed European framework, designed specifically for DLT e-money institution providing payment business, is currently not available in most solutions to partners across the world and jurisdictions. from different industries and sectors. TPL is regulated and authorised by the Gibraltar To the extent possible, Tap endeavours Financial Services Commission and is a to obtain authorisation from the relevant Principal Member of both Mastercard and regulatory body for every aspect of its Visa, providing European BIN sponsorship services. Tap has chosen partners that and modular payment, debit and prepaid already have a long standing record of services. regulatory compliance in their respective business areas. Tap has instructed The BIN sponsor, Transact Payments Hassans International Law Firm to advise Limited, is an authorised Electronic Money and assist with the DLT licence application Institution regulated by the Gibraltar process with the Gibraltar Financial Service Financial Services Commission. Its cards Commission. are issued by Transact Payments Limited pursuant to licence from Mastercard International Limited and VISA Europe Limited. Their Registered office is at the World Trade Centre, 6 Bayside Road, Gibraltar GX11 1AA. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

14.0 51 Regulation & partners W2 Global Data Announcing soon: Market leading eKYC Provider. Being Tap is registered in Gibraltar. nominated or winning over 16 awards, W2 Tap will have a registered DLT license Global is widely considered to be the “best (Distributed Ledger Technology). in class” solution in the market. Tap will also be sponsored for e-Money and Mastercard Issuing by Transact GPS Payments LTD. Tap’s Card Processing provider. GPS have built strong relationships with all the major issuing banks in Europe and are pleased ChainAlysis to often be their processing partner of Chainalysis cryptocurrency investigation choice. software helps law enforcement and financial institutions identify and stop bad actors whoare using cryptocurrencies for Processing Partners illicit activity such as fraud, extortion, and The management of Processing Partners money laundering. Inc. has been specializing in the online payment industry since 2002. Their strategic partnerships enable them to offer the world’s largest independent PCI compliant (Level1) routing payment gateway and risk management technology to lay the grounds for global payment transactions processing. Bitgo BitGo Custody offers the most advanced cold storage and custody services including KYC/AML, transaction processing, and reporting from the market leader in institutional-grade cryptocurrency security. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

14.1 52 Tap future & opportunities TAP news. We will have a news section within Tap so our customers can learn more about cryptocurrencies and plan their portfolio better. With better planning comes more trading and Tap will benefit from the fees generated by exchanging tokens. Financial Products. As Tap is a travel app we can offer travel insurance from trusted 3rd party insurance companies. Hotel bookings through the app. Tap hopes to partner with a hotel booking service to allow users to easily book hotels through the app. Referral rewards for users. In phase 2 we will allow bonuses for referrals. Using a similar model to Uber & UberEATS, users can gain rewards paid in Tap tokens for referring new customers to Tap. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

14.2 53 Disclaimers Tap N Go Ltd has taken all reasonable care to ensure that the facts stated in this document are true and accurate in all material respects, and that there are no other facts, the omission of which would make any misleading statements in the document, whether of facts or opinion. Tap N Go Ltd accepts responsibility accordingly. Tap Token (XTP) is a medium of exchange within the Tap N Go platform only. It is not intended to be a regulated financial product of any kind. An active secondary market may not necessarily develop in the tokens. No offer of regulated products: this document does not constitute an offer or solicitation of securities or any other regulated product, nor a promotion, invitation or solicitation for investment purposes. The terms of the Obtain all necessary professional advice: you should purchase are not intended to be a financial service consult a lawyer, accountant and/or tax professional offering document or a prospectus. The Tap Token as needed prior to determining whether to purchase involves and relates to the development and use of Tap Tokens. This whitepaper contains forward-looking experimental platforms (software) and technologies statements which are based on the beliefs of Tap N that may not come to fruition or achieve the objectives Go, certain assumptions made by us and information specified in this whitepaper. The Tap Tokens do not available to us. The projects described in this represent equity, shares, units, royalties or rights to whitepaper are under development and are constantly capital, profit, returns or income in the platform or being updated, including but not limited to, its technical software or in Tap N Go Limited or any other company features. Accordingly, if and when the Tap N Go project or intellectual property associated with the platform is completed, it may differ significantly from the project or any other public or private enterprise, corporation, set out in this whitepaper. No representation or warranty foundation or other entity in any jurisdiction. The Tap is given as to the achievement or reasonableness of any Tokens are not intended to represent a security or plans, future projections or prospects and nothing in similar legal interest. The Tap Tokens do not give token this document is or should be relied upon as a promise holders any form of ownership interest and shall not or representation as to the future. Tap Tokens relate to be deemed as a debt or liability, any form of financial the development and use of experimental software derivative, a contract for difference, any commercial and technologies that may not come to fruition or paper or negotiable instrument, any commodity or achieve the objectives specified. Nothing contained asset that any person is obliged to redeem or purchase, in this Whitepaper is or may be relied upon as a any entitlement for the token holder to repayment of promise, representation or undertaking as to the future the purchase price, giving the token holder rights of performance or policies of the Token Issuer and/or its any form with respect to the Company or its profits, affiliates. revenues or assets, an interest or share in any collective investment scheme, the pooling of monies with the aim Licences and approvals are not assured in all of spreading investment risk and entitling the token jurisdictions: Tap N Go Limited and its group members holder to participate in any profits or gains from the intend to operate in full compliance with applicable acquisition, holding, management or disposal of assets. laws and regulations and obtain the necessary licenses and approvals in key markets. This means No advice: this whitepaper does not constitute advice to that the development and rollout of all the features of purchase any Tap Tokens nor should it be relied upon in the ecosystem described in this whitepaper are not connection with, any contract or purchasing decision. guaranteed. Regulatory licenses and/or approvals are likely to be required in Gibraltar and, potentially, Risk warning: the purchase of Tap Tokens carries a number of relevant jurisdictions in which relevant with it significant risks. Prior to purchasing Tap activities may take place. It is not possible to guarantee, Tokens, you should carefully assess and take into and no person makes any assurances, that any account the risks, including those listed on Tap N such licenses or approvals will be obtained within a Go website and Token Sale Terms https://1drv.ms/w/ particular timeframe or at all. This means that Tap and s!AgqI5kT2Vodj9XlHQUpzpfoPQ--4 other features of the proposed ecosystem may not be available in certain markets, or at all. This could require restructuring of that ecosystem and/or its unavailability in all or certain respects. White paper v2.5.1 | © 2019 Tap N Go limited | All rights reserved www.tap.global

www.tap.global This document is the property of Tap N Go Limited, Gibraltar, who owns the copyright thereof. The information in this document is given in confidence and, without the written consent of Tap N Go Ltd given by contract or otherwise, this document must not be copied, reprinted or reproduced in any material form, either wholly or in part. In addition, the contents of this document or any methods or techniques available there from, must not be discussed to any third party whatsoever. Tap N Go Ltd reserves the right to change the contents of this document without intimation. The Whitepaper, in full or part, must not be taken or transmitted to any place where distribution or dissemination of the Whitepaper is prohibited or restricted (with specific selling restrictions where relevant). Persons into whose possession the Whitepaper may come are required to inform themselves about, and observe any relevant legal or regulatory restrictions and seek all necessary professional advice.