Blue Star Capital plc Pendulum: Spacewalk bridge released on Amplitude
01 Juin 2023 - 10:32AM
RNS Non-Regulatory
TIDMBLU
Blue Star Capital plc
01 June 2023
1 June 2023
Blue Star Capital plc
("Blue Star" or the "Company")
Pendulum announces Spacewalk bridge is released on Amplitude
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, payments, technology and its applications within
media and gaming, notes the recent update announcement made by
Pendulum, a company incubated by Blue Star's investee company
SatoshiPay, that its blockchain bridge connecting the Stellar and
Polkadot networks, 'Spacewalk', is now live on Amplitude.
Pendulum describes Spacewalk as a trust-minimised decentralised
bridge that serves as a critical link that allows the Pendulum
chain to leverage the vast array of fiat-backed stable tokens
available on the Stellar blockchain, paving the way for the
development of a fiat-based decentralised finance ecosystem. As the
pioneering bridge connecting the Stellar network with the Polkadot
and Kusama ecosystems, Spacewalk enables the seamless transfer of
stable tokens from Stellar.
Pendulum is committed to advancing foreign exchange ("Forex")
trading into the blockchain space to integrate a tranche of the
$6.6 trillion traded daily in Forex markets. It is hoped that the
Spacewalk bridge will serve as a critical component providing the
necessary stablecoin liquidity to facilitate Forex trading.
In future, it is expected that Spacewalk will be extended to
other prominent blockchain networks such as Cosmos and Ethereum.
Pendulum consider that the importance of merging traditional
finance with the cryptocurrency space is becoming increasingly
acknowledged in the market.
Blue Star holds a 27.9 per cent. stake in SatoshiPay, and
SatoshiPay has an interest of 5.5 per cent. of Pendulum's future
PEN tokens .
For more information please contact:
Blue Star Capital plc +44 (0) 777 178 2434
Tony Fabrizi, Executive Chairman
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained in this
announcement is of a non-regulatory nature.
About Blue Star
Blue Star is an investing company with a focus on new
technologies. Blue Star's investments include SatoshiPay Limited, a
payments business using blockchain technology; 4 early-stage to
mid-level esports companies, including Guild eSports plc, a global
esports business headquartered in London and Dynasty Gaming &
Media Pte. Ltd., whose B2B white label platform is a full-stack
gaming ecosystem; and Sthaler Limited, an identity and payments
technology business which enables a consumer to identify themselves
and pay using just their finger.
About Pendulum
Pendulum provides decentralised blockchain technology for
modernising traditional financial infrastructure. Its interoperable
blockchain brings together high-quality fiat tokens in a single,
powerful DeFi network. Pendulum's Forex-optimised app ecosystem
enables seamless integration into global banking with full
compliance, merging TradFi and DeFi within a scalable blockchain
ecosystem.
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.
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