SatoshiPay partnership with Axel Springer SE

RNS Number : 5997O

Blue Star Capital plc

31 January 2019

 

Blue Star Capital plc

("Blue Star" or the "Company")

SatoshiPay Partner with Axel Springer SE

Blue Star Capital plc (AIM: BLU) provides an update in respect of its investee company SatoshiPay Ltd ("SatoshiPay").

The Company is pleased to announce that SatoshiPay has entered into a partnership agreement with Axel Springer SE ("Axel Springer"), one of the largest digital publishing houses in Europe.

Commencing on 31 January 2019, SatoshiPay and Axel Springer will begin working on a joint offering, enabling users to pay for content with the digital SatoshiPay Wallet. Powered by blockchain technology, the wallet will be used to send direct payments from the user's device to the publisher without any intermediary.

As part of the project, the payment solution is to be integrated into Axel Springer products in order to gain experience in user acceptance and generate initial revenues.

Dr Valentin Schöndienst, Senior Vice President of New Business, Axel Springer states: "Blockchain payments can significantly reduce transaction costs and thus enable new monetisation systems for content. SatoshiPay offers a turnkey solution that allows us to instantly use blockchain technology and offer it to our customers".

Meinhard Benn, Founder and CEO of SatoshiPay says: "We are excited to have Axel Springer as a partner, and one that already recognises the immense potential of blockchain technology. As one of the few companies with a market-ready blockchain payment solution, we want to bring this technology into the mainstream. This has been SatoshiPay's vision since its foundation in 2014. We would also like to thank the Stellar Development Foundation, which is in full support of this partnership".

Tony Fabrizi, CEO of Blue Star said: "Today's announcement provides the clearest evidence to date that SatoshiPay's offering is at the forefront of blockchain micropayments. Securing a partnership with such a large digital publishing house provides an excellent opportunity for the SatoshiPay platform to grow its user base significantly while also providing a significant endorsement. We look forward to reporting on SatoshiPay's progress as the year unfolds".

The Company remains in discussion with SatoshiPay regarding the convertible loan notes issued by SatoshiPay to the Company and expects to make an update to the market in due course.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Blue Star Capital plc	[phone]
Tony Fabrizi
Cairn Financial Advisers LLP	[phone]
(Nominated Adviser)
Jo Turner / Liam Murray / Richard Nash
Smaller Company Capital Limited	[phone]
(Broker) Rupert Williams/Jeremy Woodgate

About SatoshiPay 

SatoshiPay was founded in 2014 and is headquartered in London, with development led through its Berlin office. SatoshiPay offers a frictionless micropayment solution to help digital publishers monetise content globally. The SatoshiPay platform is based on scalable blockchain technology supplied by the Stellar.org network. Find frequently updated information at the company's website www.satoshipay.io, its blog www.medium.com/@SatoshiPay and Twitter @SatoshiPay.

About Axel Springer

Axel Springer SE is one of the largest digital publishing houses in Europe, with leading multimedia news brands such as Business Insider, Bild, Die Welt and Upday. It employs more than 15,000 employees and generated total revenues of over €3.5 billion in 2017. The digital media activities contribute more than 60% to its revenues. Headquartered in Berlin, Germany, the company is active in more than 40 countries with subsidiaries, joint ventures, and licensing agreements.

 

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