RCS - Blue Star Capital - Pendulum: Spacewalk bridge released on Amplitude

Blue Star CapitalAnnouncement

01/06/2023 09:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230601:nRSA3375Ba&default-theme=true

RNS Number : 3375B  Blue Star Capital plc  01 June 2023

1 June 2023

Blue Star Capital plc

 

("Blue Star" or the "Company")

 

Pendulum announces Spacewalk bridge is released on Amplitude

 

Blue Star Capital plc (AIM: BLU), the investing company with a focus on
esports, payments, technology and its applications within media and gaming,
notes the recent update announcement made by Pendulum, a company incubated by
Blue Star's investee company SatoshiPay, that its blockchain bridge connecting
the Stellar and Polkadot networks, 'Spacewalk', is now live on Amplitude.

 

Pendulum describes Spacewalk as a trust-minimised decentralised bridge that
serves as a critical link that allows the Pendulum chain to leverage the vast
array of fiat-backed stable tokens available on the Stellar blockchain, paving
the way for the development of a fiat-based decentralised finance ecosystem.
As the pioneering bridge connecting the Stellar network with the Polkadot and
Kusama ecosystems, Spacewalk enables the seamless transfer of stable tokens
from Stellar.

 

Pendulum is committed to advancing foreign exchange ("Forex") trading into the
blockchain space to integrate a tranche of the $6.6 trillion traded daily in
Forex markets. It is hoped that the Spacewalk bridge will serve as a critical
component providing the necessary stablecoin liquidity to facilitate Forex
trading.

 

In future, it is expected that Spacewalk will be extended to other prominent
blockchain networks such as Cosmos and Ethereum.  Pendulum consider that the
importance of merging traditional finance with the cryptocurrency space is
becoming increasingly acknowledged in the market.

 

Blue Star holds a 27.9 per cent. stake in SatoshiPay, and SatoshiPay has an
interest of 5.5 per cent. of Pendulum's future PEN tokens.

 

For more information please contact:

 

 Blue Star Capital plc               +44 (0) 777 178 2434
 Tony Fabrizi, Executive Chairman

 

Reach is a non-regulatory news service. By using this service an issuer is
confirming that the information contained in this announcement is of a
non-regulatory nature.

About Blue Star

Blue Star is an investing company with a focus on new technologies. Blue
Star's investments include SatoshiPay Limited, a payments business using
blockchain technology; 4 early-stage to mid-level esports companies, including
Guild eSports plc, a global esports business headquartered in London and
Dynasty Gaming & Media Pte. Ltd., whose B2B white label platform is a
full-stack gaming ecosystem; and Sthaler Limited, an identity and payments
technology business which enables a consumer to identify themselves and pay
using just their finger.

About Pendulum

Pendulum provides decentralised blockchain technology for modernising
traditional financial infrastructure. Its interoperable blockchain brings
together high-quality fiat tokens in a single, powerful DeFi network.
Pendulum's Forex-optimised app ecosystem enables seamless integration into
global banking with full compliance, merging TradFi and DeFi within a scalable
blockchain ecosystem.

Forward looking statement disclaimer

Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates,'
'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject to known
and unknown risks, uncertainties, and other factors, some of which are beyond
the Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements. The Company cautions shareholders and prospective
shareholder holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the date of this
announcement. The forward-looking statements made in this announcement relate
only to events as of the date on which the statements are made. The Company
will not undertake any obligation to release publicly any revisions or updates
to these forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement except as
required by law or by any appropriate regulatory authority.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAVFLBBXQLLBBV