SatoshiPay Update

24 June 2026

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 and payments provides the following updates related to its investee company SatoshiPay Ltd ("SatoshiPay").

FX DEX Technology Update

Further to the announcement of 1 April 2026, development of the decentralised foreign exchange ("FX DEX") infrastructure within the Pendulum ecosystem has continued to advance, leveraging Nabla Finance's AMM technology. Separately, SatoshiPay has continued to progress the development and commercial rollout of Vortex, its fiat-to-crypto infrastructure platform.

As part of these developments, the Pendulum community completed the migration of the FX DEX and its associated liquidity to the Base blockchain network. This migration is intended to improve settlement efficiency for fiat-to-crypto flows and provide access to Base's aggregated stablecoin liquidity.

Following deployment on Base, Pendulum's FX DEX has achieved approximately US$3 million in monthly foreign exchange volume for EURC and BRLA swaps to and from USDC. SatoshiPay expects the migration to support improved liquidity management for its SEPA-to-crypto ramp infrastructure by enabling liquidity to be rebalanced through Base's broader stablecoin ecosystem.

Spacewalk Bridge

As a consequence of the migration to Base and SatoshiPay's focus on developing stablecoin infrastructure within that ecosystem, Pendulum intends to deprecate the Spacewalk bridge on Wednesday, 8 July 2026. The migration to alternative bridging infrastructure is expected to reduce the need for locked collateral and free up liquidity that may be redeployed within the Vortex ecosystem.

Corridor Expansion

SatoshiPay has also progressed the commercial rollout of Vortex through the transition of certain regional partnerships from development into production.

In the Americas, Vortex has launched fiat-to-crypto corridors across Mexico, Argentina, Colombia and the United States through its integration with Alfredpay. This integration includes know-your-business support, local fiat account handling and dynamic routing.

In Europe, SatoshiPay has relaunched its SEPA fiat-to-crypto ramp in partnership with Mykobo. The upgraded flow is headless, operates independently of any user interface, and API-led, supporting EURC on-ramping and off-ramping.

Product Development

SatoshiPay is also continuing to develop Vortex for use in programmable and automated fiat-to-crypto workflows. Vortex has released documentation for AI agent-ready integrations, designed to allow developers to integrate Vortex into automated fiat-to-crypto workflows.

In addition, SatoshiPay is prototyping and piloting two further product flows:

• a direct-to-DeFi onboarding flow, intended to allow users to move from traditional bank accounts into a yield-bearing Morpho vault while abstracting the crypto conversion process; and

• a bank transfer-triggered fiat-to-crypto flow, intended to allow business users to access stablecoin settlement rails through a standard bank transfer without requiring the user to register separately for a ramp or manually request a quote in advance.

Outlook

SatoshiPay continues to focus on scaling Vortex as fiat-to-crypto settlement infrastructure for institutional and business payment flows. The migration of liquidity to Base, the launch of additional regional corridors and the development of automated payment workflows are expected to support the continued commercial development of Vortex across both institutional settlement and decentralised finance use cases.

The Company will provide further updates in due course.

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: 

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 Vortex Finance (www.vortexfinance.co), a ramping platform providing widget and API solutions for seamless fiat-to-crypto access and cross-border payments; Pendulum (www.pendulumchain.org), a cross-chain infrastructure connecting stablecoins and traditional currencies to DeFi; and Nabla Finance (www.nabla.fi), a next-generation, active automated market making decentralised exchange. 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.