Update on SatoshiPay Investment

RNS Number : 6534Z

Blue Star Capital plc

22 September 2020

 

22 September 2020

Blue Star Capital plc

("Blue Star" or the "Company")

Update on SatoshiPay Investment

Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, is pleased to provide the following update regarding its investee company SatoshiPay .

SatoshiPay has today announced the launch of its B2B payments platform, DTransfer, which is able to facilitate instant cross-border payments for businesses.  Built on SatoshiPay's blockchain technology and the Stellar network, DTransfer is aiming to establish a new standard for global payments, focussing on speed, cost and transparency.  DTransfer integrates currency exchange into each transaction and allows customers to track payments in real-time. Further, DTransfer will allow approved banks and businesses to join a compliance network to share KYC/KYB data.

To date, DTransfer has connected its payment platform to banking networks in Europe, US, Mexico, Nigeria and Tanzania and has signed up its first client, a European business operating in the microfinance industry in sub-Saharan Africa. DTransfer is in the process of connecting further local banking networks in Europe, Asia and the Americas.

Blue Star currently owns 27.7% of the SatoshiPay's share capital.

Tony Fabrizi, CEO of Blue Star commented, "The launch of DTransfer is an important step in SatoshiPay's diversification into B2B payments. DTransfer aims to provide customers with a quicker, more competitively priced and transparent process than the competing products provided by the banking industry. We look forward to announcing further developments with DTransfer as the product is rolled out amongst an initial customer base over the next quarter."

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 Tony Fabrizi, Chief Executive  [phone] Cairn Financial Advisers LLP Nomad & Broker Jo Turner/Liam Murray/Mark Rogers [phone]

About Blue Star Capital

Blue Star is an investing company with a focus on new technologies. Blue Star's investments include a 27.7% holding in SatoshiPay, a payments business using blockchain technology; investments in 6 early stage esports companies with shareholdings ranging from 11% to 18% and a 0.9% investment in Sthaler, an identity and payments technology business which enables a consumer to identify themselves and pay using just their finger.

 

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