REG - Blue Star Capital - SatoshiPay Update

Blue Star CapitalAnnouncement

29/05/2025 07:00

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RNS Number : 5011K  Blue Star Capital plc  29 May 2025

29 May 2025

 

Blue Star Capital plc

 

("Blue Star" or the "Company")

 

SatoshiPay Update

 

Blue Star Capital plc (AIM: BLU), the investing company with a focus on
blockchain, esports and payments, notes the announcement by SatoshiPay Ltd
("SatoshiPay"), its investee company, that Vortex, a decentralised exchange
platform incubated by SatoshiPay, designed to enhance global payments by
bridging stablecoins with local fiat currencies, has achieved $1 million in
transaction volumes since launching in Europe and Brazil, with $507,000 of the
total achieved in May 2025.

The Vortex platform enables users to seamlessly swap stablecoins for local
fiat currencies at significantly lower costs than current market rates. This
presents a substantial opportunity in a rapidly growing market, with
cross-border stablecoin payments valued at US$27 billion in 2023 and projected
to reach US$137 billion by 2028. This growth highlights a US$14 billion volume
in the on/off-ramp market opportunity over the next four years.

Vortex's business model is built around enabling easy to complete currency
conversions and bank transfers with ultra-low costs and no hidden fees. Vortex
achieves this with a stablecoin-optimised decentralized exchange together with
local- currency on and offramp partners. By leveraging chain abstraction,
Vortex offers a fluid user experience across different blockchain ecosystems.
Vortex builds on top of Nabla technology and uses Pendulum infrastructure for
providing its service to users of various blockchains such as Polygon, Base,
BSC, Ethereum and Polkadot.

At present Vortex is available in Brazil and Europe and currently facilitates
immediate conversions of USD Coin (USDC) and USDT (Tether), into EUR (SEPA)
and Brazilian real (BRL), via PIX, Brazil's instant payment system created and
managed by the Central Bank of Brazil.

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 Limited, an experienced blockchain
company with a strong track record in innovative payment solutions; Lets Play
Live, whose B2B white label platform is a full-stack gaming ecosystem; Paidia,
a female focussed gaming platform; and Sthaler Limited, an identity and
payments technology business which enables a consumer to identify themselves
and pay using just their finger.

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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