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.