REG - Blue Star Capital - SatoshiPay Update - SAFE Fundraise

Blue Star CapitalAnnouncement

07/10/2025 07:00

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RNS Number : 2825C  Blue Star Capital plc  07 October 2025

07 October 2025

Blue Star Capital plc

 

("Blue Star" or the "Company")

 

SatoshiPay Update - SAFE Fundraise

 

Blue Star Capital plc (AIM: BLU), the investing company with a focus on
blockchain, payments and esports, announces that, its investee company,
SatoshiPay Ltd ("SatoshiPay"), has completed a EUR250,000 fundraise, through a
SAFE (Simple Agreement for Future Equity) funding round, with Blue Star
Capital as the sole participator, covering the entire round.

 

In addition to the EUR250,000, Blue Star has signed an agreement with
SatoshiPay, allowing the Company to participate in a further SAFE round up
until 31 January 2026 allowing it to invest up to EUR250,000 on identical
terms.

 

The Company is pleased to support SatoshiPay at this critical stage in its
evolution and believes the conversion terms are attractive to the Company
while also allowing SatoshiPay to focus on building its business without the
distractions connected with fund raising.

 

As announced on 25 February 2025, a SAFE funding round does not immediately
issue equity or change the shareholding structure of SatoshiPay. Conversion of
the SAFE funding into equity will only occur in the event of satisfying its
predefined conditions, including but not limited to; a future funding round, a
change of control, or an IPO, as outlined in the SAFE agreement.

 

The SAFE funding was completed at a post money valuation cap of EUR3.5
million, which sets the maximum price at which the SAFE funding converts. The
true valuation of SatoshiPay at the time of the conversion will depend on the
terms of any future equity funding round.

 

The SAFE fundraise will provide SatoshiPay with sufficient working capital
ahead of a further anticipated Series A fundraising for SatoshiPay in first
half of 2026. SatoshiPay will use the funds to accelerate its South American
market expansion and broaden blockchain integrations across key networks
including Base, Ethereum, Polygon, Arbitrum, Binance Smart Chain and Polkadot,
strengthening its multi-chain and interoperability capabilities.

 

Existing clients, already transacting substantial volumes through Vortex,
requested an API to automate their flows and increase frequency. SatoshiPay
has now launched this API and an automated pool-rebalancing system, enabling
these partners to scale activity significantly.

 

In parallel, Vortex is in advanced discussions regarding integrating with a
leading global crypto-fiat gateway aggregator, connecting to over 50 wallets
and exchanges, including MetaMask, Phantom and Paybis, which may open access
to a broad, high-margin customer base and further expand Vortex's commercial
reach. Further announcements will be made in due course.

 

Subject to the SAFE being fully converted at the point of a future funding
round Blue Star's shareholding will change but the extent of this change will
be dependent on the amount raised and the valuation of SatoshiPay at the time
of the SAFE conversion.

 

Until such a conversion takes place, Blue Star's current shareholding of
approximately 50 per cent. remains unchanged.

 

Tony Fabrizi, Executive Chairman said "We are pleased with ongoing progress at
SatoshiPay and keen to support their growth plans with our latest funding
support through the SAFE structure. The recent improvements in the Vortex
platform lays the foundations for significant future growth and we look
forward to updating the market with their progress during the remainder of the
year."

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

 

For more information please contact:

 

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

 Cairn Financial Advisers LLP         +44 (0) 20 7213 0880
 (Nominated Adviser)
 Jo Turner / Liam Murray / Ed Downes

 Axis Capital Markets Limited         +44 (0) 20 3026 0449
 (Sole Broker)
 Lewis Jones

 

About Blue Star

Blue Star is an investing company with a focus on new technologies. Blue
Star's investments include SatoshiPay Ltd, an experienced blockchain company
with a strong track record in innovative payment solutions; Dynasty Media
& Gaming, whose B2B white label platform is a full-stack gaming ecosystem;
and Paidia, a female focussed gaming platform.

 

About SatoshiPay

SatoshiPay is a blockchain technology company building software solutions at
the intersection of fiat and decentralised finance. The company is driving
ecosystem growth through strategic projects and incubations including Pendulum
(www.pendulumchain.org (http://www.pendulumchain.org) ), a Polkadot-based
network connecting stablecoins and traditional currencies to DeFi; Nabla
Finance (www.nabla.fi (http://www.nabla.fi) ), a next-generation decentralised
exchange; and Vortex Finance (www.vortexfinance.co
(http://www.vortexfinance.co) ), a ramping platform providing widget and API
solutions for seamless fiat-to-crypto access. SatoshiPay holds strategic token
positions, leveraging synergies across its portfolio, deploying liquidity and
earning yield to strengthen its ecosystem and shareholder value.

 

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.

 

 

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