REG - Blue Star Capital - SatoshiPay Update

Blue Star CapitalAnnouncement

29/07/2025 07:00

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RNS Number : 8775S  Blue Star Capital plc  29 July 2025

29 July 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, payments and esports, announces (i) SatoshiPay's drawdown of the
secured loan provided by the Company; and (ii) confirmation that SatoshiPay
has met the second set of milestones with respect to the grant issued by The
Web3 Foundation ("Web3").

 

Drawdown of the Secured Loan

On 28 July 2025, SatoshiPay Ltd ("SatoshiPay") drew down £1,000,000 of the
secured loan facility (the "Loan") provided by the Company.

 

In the announcement of 2 July 2025, the Company stated that a minimum of
£1,000,000 would be used to invest into SatoshiPay by way of the Loan, in
order for SatoshiPay to increase its existing digital asset treasury function,
with the Loan secured against the value of the treasury assets. Blue Star will
retain the full benefit of any increase in value of the portfolio and by
providing the Loan, as the largest shareholder, Blue Star will benefit from
the growth of SatoshiPay whilst maintaining security over the funds lent via a
lien granted against any crypto assets purchased.

 

The Company will provide further information to the market once these funds
have been fully invested by SatoshiPay.

 

Second Web3 Grant Milestone Achieved

Further to the above, Vortex, a decentralised exchange platform incubated by
SatoshiPay designed to streamline global payments by bridging stablecoins with
local fiat currencies, has now met the second set of milestones set out under
the grant structure with Web3, a foundation developed to promote emerging
decentralized web software protocols, technologies, and applications. These
milestones included:

 

●     Launching Vortex in key markets, such as Brazil; and

●     Establishing a Polkadot offramp via Pendulum's Spacewalk bridge to
enable USDC-to-fiat swaps.

 

As a result, SatoshiPay expects to receive the next tranche of non-dilutive
grant funding of approximately US$130,000 in the near future.

 

Following Vortex achieving the second set of milestones within its anticipated
timeline, SatoshiPay remains well positioned to advance its product roadmap
and continue scaling Vortex into target markets.

 

Tony Fabrizi, Executive Chairman of Blue Star said, "We are delighted that
SatoshiPay and Blue Star have completed all necessary legal and corporate
structural arrangements to allow SatoshiPay to drawdown the Loan and expand
its digital asset treasury operations.

 

"These funds together with those provided via the recent Web3 grant put
SatoshiPay in an excellent position to build Vortex so it can gain increased
market traction."

 

The Company currently has a 50 per cent. shareholding in SatoshiPay.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation. The Directors of the Company take responsibility for
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.

 

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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