SatoshiPay Update

Blue Star Capital plc (AIM: BLU), the investing company with a focus on blockchain, esports and payments, announces that its investee company, SatoshiPay Ltd ("SatoshiPay"), has been awarded a US$468,000 grant from The Web3 Foundation ("Web3") a blockchain company developed to promote emerging decentralized web software protocols, technologies, and applications,

SatoshiPay was awarded the grant by Web3 in order to help the company further develop its projects, in particular Vortex, a decentralised exchange platform incubated by SatoshiPay designed to streamline global payments by bridging stablecoins with local fiat currencies. By leveraging Polkadot's multi-chain architecture, Vortex aligns with Web3's mission to foster decentralized technologies that enhance global financial inclusion.

The grant will help accelerate the development of key Vortex milestones, such as:

• A Polkadot offramp which will allow Polkadot users to swap stablecoins like USDC to local fiat currencies such as EUR via Pendulum's Spacewalk bridge;
• Expanding stablecoin access across Polkadot parachains via Cross-Consensus Messaging (XCM);
• Assist further launches in key markets, such as Brazil and Argentina, where the need for affordable cross-border payments is most critical; and
• Upgrade Pendulum's Stellar-Polkadot bridge Spacewalk, eliminating the need for liquidity-locking vault operators and increasing efficiency.

As part of its commitment to scaling this groundbreaking project, SatoshiPay shareholders have decided to match the Web3 Foundation's grant and are preparing to close a seed financing equity round in the upcoming weeks.

"This grant from Web3 Foundation is a testament to the transformative potential of Vortex," said Alexander Wilke, CEO of SatoshiPay. "Our shareholders' decision to match this support with an equity round highlights the confidence we have in Vortex to revolutionize cross-border payments and drive real-world impact."

The Directors of the Company are responsible for the release of this announcement.