Blue Star Capital plc Investment update on SatoshiPay (3520F)

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RNS Number : 3520F

Blue Star Capital plc

17 May 2017

Blue Star Capital plc

("Blue Star" or the "Company")

Investment update on SatoshiPay

Blue Star Capital plc (AIM: BLU), the investing company with a focus on technology is pleased to announce that its investee company, SatoshiPay Ltd ("SatoshiPay"), a UK incorporated private nanopayment software and blockchain company in which Blue Star owns approximately 19 per cent of the equity, now accepts top-ups of its SatoshiPay online wallet via PayPal.

Although SatoshiPay's PayPal top-up service is currently in the beta stage of testing, the Directors believe this is an important development milestone and will allow PayPal users to pay for web content wherever SatoshiPay's login-less payment widget is used. This means there will no longer be the requirement for SatoshiPay users to use cryptocurrencies, instead they can simply use their PayPal account to utilise the nano payment benefits SatoshiPay offers. Furthermore, it is anticipated that publishers of online products, such as blogs, will be able to monetise their following with far greater ease.

Tony Fabrizi CEO of Blue Star commented:

"The extension of SatoshiPay's service via PayPal is an important step in the roll-out of the service and should broaden SatoshiPay's user base significantly. We remain excited by the potential of SatoshiPay and hope to announce further developments during the course of this year."

Meinhard Benn CEO of SatoshiPay commented "the evolution of our service is gaining momentum and we believe this development will help illustrate the scale of the opportunity for nanopayments. We know a number of existing and potential customers have been waiting for the broadening of the service and we look forward to working with them over the coming months".

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

For further information, please contact:

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

About Blue Star Capital Plc

Blue Star is an investing company with a focus on technology and its applications within media and gaming. Blue Star's investments include a 19 per cent. holding in SatoshiPay, a nanopayment software and blockchain company; a holding in Disruptive Tech Limited, an investing company with five investments including a 38% holding in VNU Group LLC ("VNU") a speciality online direct retailer of premium goods paid for through an instant credit facility and a holding in Nektan PL; and an investment in Sthaler, an early stage identity and payments technology business which enables a consumer to identify themselves and pay using just their finger at retail points of sale.

About SatoshiPay Ltd

SatoshiPay is headquartered in London with development led through its office in Berlin. Angel funding for SatoshiPay Ltd was supplied by Axel Springer Plug & Play and Henning Peters, seed funding was raised through publicly listed companies Coinsilium Group (ISDX:COIN) and FastForward Innovations (LON:FFWD). Development of SatoshiPay's nanopayment product started in April 2015 and its beta version was released in February 2016. Find updated information at the company's website https://satoshipay.io, its blog https://medium.com/@SatoshiPay and Twitter @SatoshiPay.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 17, 2017 02:00 ET (06:00 GMT)