On Wednesday, June 11th at 12:00 CET, Crunchfish and Emerger invites to a luncheon where CEO Joachim Samuelsson will describe how Crunchfish is Rethinking Payments and why this will be a turnaround for the company.

At the luncheon Crunchfish CEO Joachim Samuelsson will describe how Crunchfish is Rethinking Payments and how this will be a turnaround for Crunchfish. Joachim Samuelsson and Emerger's Johan Widmark will have an open discussion around these five topics:

• Online payments – Survivability in the Face of Failure – A Packet-Based Approach
• Offline Payments – Reserve, Pay, and Settle with Digital IOUs
• Rethinking Physical Cash – Returning Change Digitally
• Beyond Payments – Market Potential for Crunchfish’s Innovations
• Turnaround – Third time’s the charm – Crunchfish’s new go-to-market strategy

Participants are invited to ask questions directly to Joachim during the meeting.

The luncheon is held in Swedish. No registration is needed, participation via the below link. Recordings of the luncheon will be available afterward on the Crunchfish website.

Luncheon (in Swedish)

Date and time: Wednesday June 11th at 12:00 – 13:00 CET

Click to participate

Meeting-ID: 382 794 966 103 7

Password: 9Bi79aR6

A short interview by Västra Hamnen from today serves as a good background to this luncheon.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the above for publication on 05th June 2025 at 16:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep fintech company pioneering a Digital Cash solution that enhance resilience, flexibility, and scalability in payment ecosystems. The patented offline payment architecture supports both payment network providers and payment service providers in modern commercial payment systems and evolving CBDC initiatives. Headquartered in Malmö, Sweden, Crunchfish drives innovation to shape the future of payments.

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With the introduction of its latest groundbreaking use case earlier today— eliminating the merchant pain point of returning physical cash as change by returning it digitally — Crunchfish is proud to announce its new tagline: RETHINKING PAYMENTS. This tagline reflects the company’s role as a deep fintech pioneer of practical, next-generation digital solutions that challenge conventional ideas about payments across online, offline, and physical cash ecosystems. While Crunchfish remains focused on payments today, the company’s patented and patent-pending innovations extend far beyond payments, positioning it as a leader in redefining how applications in many industries can solve critical challenges.

Crunchfish’s new tagline — RETHINKING PAYMENTS — represents its mission to provide innovative and practical solutions for the evolving needs of payment systems globally. Whether it is offline payments, making online payments resilient, or solving inefficiencies tied to physical cash, Crunchfish consistently challenges traditional paradigms to deliver meaningful improvements. Rethinking Payments reflects the company’s vision as it leads the way in reimagining every aspect of payments to meet the demands of the modern economy.

Online payments – Survivability in the Face of Failure – A Packet-Based Approach: Just as the internet transformed digital communications in the 90’s into a much more robust and resilient packet-based approach introduces Crunchfish’s patent-pending Trusted Application Protocol (TAP) resilience to the application layer of, for instance, digital payments by designing payment traffic with a packet-based communication architecture inspired by the TCP/IP protocols that built the internet. TAP ensures that payment applications function reliably even during backend server failures or disrupted network conditions. TAP works across proximity protocols (QR code, Bluetooth, NFC) and remote protocols (internet or SS7 signaling), making it transport-layer agnostic, ensuring secure end-to-end communication between clients as well as between clients and servers. With private key in a trusted client in a PKI-based architecture, TAP ensures secure communications in between clients and between clients and servers using software-based isolated runtime execution environments by virtual secure elements in the clients, offering unmatched security and scalability for both offline and online environments.

Offline Payments – Reserve, Pay, and Settle with Digital IOUs: Crunchfish’s signature offline payment solution enables digital payments to function even when disconnected from backend systems or the internet. Built on a patented architecture, the Reserve, Pay, and Settle (RPS) model allows payment ecosystems to operate seamlessly offline by issuing Digital IOUs locally in trusted client devices. These IOUs are reconciled securely when connectivity is restored, ensuring trust, scalability and interoperability across domestic and international payment networks. The patented solution is payment network agnostic and even makes diverse payment networks interoperable regardless if it is real-time payment networks (e.g., UPI, Pix), card networks (e.g., Visa, Mastercard), CBDCs, mobile money, stablecoins, other cryptocurrencies, or closed-loop payment systems.

Rethinking Physical Cash – Returning Change Digitally: Crunchfish earlier today introduced a revolutionary use case targeting one of the most persistent challenges in merchant ecosystems: returning change in physical cash. By providing digital change instead of coins or small banknotes, merchants can solve this pain point while reducing operational inefficiencies and logistical overhead. Leveraging Crunchfish’s offline payment technology, merchants sign Digital IOUs for returning exact change digitally, and customers only need offline terminals to receive the change. This decreases logistical challenges significanly surrounding coins and small denominations. Reduces cash handling costs while simplifying the payment experience, it provides a natural fit for Central Bank Digital Currency (CBDC), allowing physical cash-backed change to be issued as CBDC.

Beyond Payments: Market Potential for Crunchfish’s Innovations. Beyond its innovative contributions to payments, Crunchfish’s patented and patent-pending innovations have the potential to solve critical challenges across a wide spectrum of industries and applications. This was emphasized with Crunchfish previous tagline “Trust in Clients” outlined in a whitepaper released exactly one year ago. While the company remains laser-focused on payments for now, its innovative patented and patent-pending technologies — such as the Trusted Application Protocol (TAP) and offline-wallet-driven architectures — can be deployed across broader markets, including: 
 

• Authentication and Identity Management: Enabling secure, offline authentication for enterprise systems, digital identity programs, and device-to-device communications.
• IoT and Decentralized Systems: Enabling secure IoT data transmission or operations in decentralized systems using proximity-based interaction or offline methodologies.
• Mission-Critical Communications: Providing resilience for offline communication channels in scenarios such as disaster recovery and defense operations. 
   

Although these applications represent future revenue opportunities, Crunchfish is focused on payments today, given the enormous market opportunity that payments represent as one of the most evolving and innovation-driven sectors globally.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the above for publication on 05th June 2025 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep fintech company pioneering a Digital Cash solution that enhance resilience, flexibility, and scalability in payment ecosystems. The patented offline payment architecture supports both payment network providers and payment service providers in modern commercial payment systems and evolving CBDC initiatives. Headquartered in Malmö, Sweden, Crunchfish drives innovation to shape the future of payments.

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Crunchfish addresses one of the most unwanted aspects of physical cash handling—returning change to customers—with its patented Digital Cash solution. By enabling merchants to return change digitally, Crunchfish decreases the logistical burden of managing coins and small denominations, significantly reducing the operational cost of handling physical cash. This solution may be the needed silver bullet use case for Central Bank Digital Currencies (CBDCs), allowing merchants to seamlessly return digital change in central bank backed currency, without disrupting existing payment flows.

Returning change to customers paying with physical cash is one of the most persistent operational pains for merchants who handle cash. This logistical challenge arises from:

• Uncertainty in Daily Cash Requirements: Merchants need to ensure they have sufficient coins and small denomination banknotes to provide change to customers, often over-preparing to cover unknown demand.
• Cost of Coin Circulation: Change is often in small denominations requiring coins which are both expensive to produce for the central bank and cumbersome to manage, driving up cash handling costs due to their inefficiency, weight, and the logistical burden of ensuring availability.
• Cash Management Overhead: Merchants must handle cash distributions daily, managing restocking and reconciliation processes that are time-intensive and inefficient.

These challenges make returning change one of the most costly aspects of operating a cash-handling business and represents a growing pain point for merchants across markets with high cash usage.

Crunchfish’s patented Digital Cash solution decreases the need for merchants to handle physical cash for returning change, streamlining operations at the point of sale. The solution leverages offline payment technology, which allows merchants to return change digitally using Offline Wallets. Customers only need Offline Terminals, which can securely receive the digital change using proximity communication methods such as QR codes, Bluetooth, or NFC.

The retail payment process at a merchant is simple to understand:
 

1. Customer Pays with Physical Cash: The customer uses physical banknotes to settle the transaction with the merchant.
2. Merchant Returns Digital Change: Instead of giving back coins or small denomination cash, the merchant signs out the exact change digitally using an offline wallet.
3. Customer Receives Change Digitally: The customer receives digital cash in their offline terminal, creating a seamless experience that aligns with the customer's existing payment habits.

When either the customer or the merchant goes online the change moves from the merchant’s to the customer’s account which is the foundation of Crunchfish’s patened signature Reserve, Pay, and Settle approach with digital IOUs.

This use case is particularly compelling in the roll-out of Central Bank Digital Currency (CBDC) systems: By returning change digitally, the solution bridges the gap between physical cash and digital cash, creating a seamless transition for users accustomed to cash. The solution is also very natural for CBDCs, as customers are paying with central bank-guaranteed physical cash and having the change is returned as CBDC.

To successfully deploy this solution in the market, payment network providers play a critical role by equipping users with the ability to receive offline payments. This is in line with Crunchfish’s “third times the charm” go to market srategy where the payment network provider should equip users with offline terminals as this enables universal access. Anyone who can make payments online can now receive payments offline. Enabling all users to receive change digitally is the critical first step to creating the foundation of an offline payment system in a market and accelerates the enduser adoption of offline wallets to make digital payments more resilient.

This approach not only resolves the merchant’s pain point regarding coin handling but also paves the way for offline ecosystems to scale efficiently, making Crunchfish’s offering vital for central banks, payment networks and payment service / application providers alike to deliver a robust payment ecosystem for both endusers and merchants.

Crunchfish’s CEO, Joachim Samuelsson, will present this innovative solution at the following industry-defining conferences hosted by Currency Research: Currency Research Asia Cash Cycle Seminar, in Bali – September 22-24, and Currency Research Americas Cash Cycle Seminar, Miami – November 3-6.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the above for publication on 05th June 2025 at 08:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep fintech company pioneering a Digital Cash solution that enhance resilience, flexibility, and scalability in payment ecosystems. The patented offline payment architecture supports both payment network providers and payment service providers in modern commercial payment systems and evolving CBDC initiatives. Headquartered in Malmö, Sweden, Crunchfish drives innovation to shape the future of payments.

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Crunchfish AB (“Crunchfish” or the “Company”) today announces the result of the exercise of warrants series TO 11, which were issued in connection with the Company’s rights issue of units in November 2024. The result shows that a total of 8,312,137 warrants series TO 11 were exercised for subscription of 8,312,137 new shares in the Company, corresponding to approximately 93 percent of the total number of issued warrants series TO 11. Through the exercise, Crunchfish receives approximately SEK 5.2 million before transaction costs.

Crunchfish In November 2024, Crunchfish conducted a rights issue of units consisting of shares and warrants, where every unit consisted of two (2) shares, one (1) warrant series TO 10 and one (1) warrant series TO 11. In total, 8,931,034 warrants series TO 10 and 8,931,034 warrants series TO 11 were issued. Every one (1) warrant entitles the holder to subscribe for one (1) new share in Crunchfish. In accordance with the terms and conditions for the warrants series TO 11, the subscription price per share was set to SEK 0.63.

The subscription period is now complete and the result shows that a total of 8,312,137 warrants series TO 11 were exercised for subscription of 8,312,137 new shares in the Company, corresponding to approximately 93 percent of the total number of issued warrants series TO 11. This will bring a total of approximately SEK 5.2 million to Crunchfish before transaction costs.

Through the exercise of 8,312,137 warrants series TO 11, the number of shares in Crunchfish increases with 8,312,137 shares to 73,842,891 shares, and the share capital increases with SEK 382,358.302 to SEK 3,396,772.986. This entails a dilution of approximately 11.26 percent based on the number of outstanding shares in Crunchfish.

Delivery of new shares
Shares that have been subscribed and paid for will be registered on the subscriber’s securities depository as interim shares (IA) until registration of the issue has been completed with the Swedish Companies Registration Office, whereupon the interim shares automatically will be converted into shares in Crunchfish. The interim shares are expected to be converted to shares within two weeks.

Financial advisor, issuing agent and legal advisor
Västra Hamnen Corporate Finance AB is financial advisor and Nordic Issuing AB act as issuing agent to Crunchfish in connection with the exercise of warrants series TO 11. Setterwalls Advokatbyrå AB is legal advisor.

Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Crunchfish. An offer to concerned persons to subscribe for units consisting of shares and warrants series TO 10 and TO 11 in Crunchfish has only been made through the EU growth prospectus that Crunchfish published on November 1, 2024.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com

This information was provided by the above for publication on 2^nd June 2025 at 16:10 CET. Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com
Crunchfish provides modular and scalable offline payment solutions that bridge the gaps in the payment landscape. With its Digital Cash Offline Wallet and Offline Terminal Infrastructure, patented Reserve, Pay, Settle architecture, and unique approach to separating the roles of payment rails and wallet providers, Crunchfish is creating the foundation for resilient, secure, and future-ready CBDC and commercial payment ecosystems worldwide.

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Crunchfish Digital Cash AB (“Crunchfish”) has received a Final Notice from the Swedish Patent Office (PRV) for a privacy and interoperable offline payment innovation, where the payee does not have to be onboarded to receive the payment. This is a divisional patent application with priority from the underlying patent application filed in November 2021. The patent is valid until November 2041, 20 years from the original filing date.

Crunchfish is pleased to announce that the Swedish Patent Office (PRV) has issued a Final Notice that they intend to grant Crunchfish a patent for divisional patent application number 2350084-6, wherein a signed offline payment by either the payer or the issuing payment service provider on behalf of the payer may be verified by the payment network or the issuing payment service provider by means of a root digital certificate of a certificate authority (CA), independent from the entities of the digital payment system. 

The innovation enables transaction privacy for the payer with respect to the whole payment ecosystem, save for the issuing bank, as payments may be signed out by the issuing bank on behalf of the payer. Another valuable aspect is that payees may receive offline payments without taking any preparatory steps to become onboarded to the offline payment system.

“This is an interesting payments innovation that allows the payer to be private in relation to the whole payment ecosystem except the issuing bank. It also supports offline payments interoperability – cross-service, cross-network, and cross-border – even if the payee is not yet onboarded to the offline payment system. By the virtue of the grant in Sweden, our hopes for grants in other jurisdictions increase considerably”, says Joachim Samuelsson, CEO of Crunchfish.

The underlying patent application with priority from November 2021 has already been granted in Sweden with patent number 546 821, and is in the process to be nationalized in Europe, USA and India.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 2^nd June 2025 at 15:45 CET. Västra Hamnen Corporate Finance AB is the Certified Adviser.
Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com
Crunchfish provides modular and scalable offline payment solutions that bridge the gaps in the payment landscape. With its Digital Cash Offline Wallet and Offline Terminal Infrastructure, patented Reserve, Pay, Settle architecture, and unique approach to separating the roles of payment rails and wallet providers, Crunchfish is creating the foundation for resilient, secure, and future-ready CBDC and commercial payment ecosystems worldwide.

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Crunchfish Digital Cash AB is thrilled to announce the release of its latest white paper titled Rethinking Offline Payments: A Groundbreaking Ecosystem Approach. This groundbreaking whitepaper tackles the pressing need for resilient offline payment solutions while addressing the critical challenges currently faced by the payment ecosystems.

The white paper discusses how traditional digital payment systems are designed for the happy flow only and in need for more resilience. It emphasizes the importance of providing offline terminals via the payment network and offline wallets through payment service providers. By generalizing foundational pillars of digital payments, Crunchfish outlines innovative strategies to enhance both user experience and financial inclusion.

“Understanding the roles in payment ecosystem is crucial to creating an inclusive and robust offline payment system. Whereas payment service providers should implement offline wallets to enable their users to make payments, payment Networks should enable the whole ecosystem to receive payments”, said Joachim Samuelsson. “I’m looking forward to sharing our ideas at the Digital Currency Conference and engaging with central bankers and commercial payment network providers on how we can reshape the future of payments together.”

Upcoming Presentation by CEO Joachim Samuelsson 

Crunchfish’s CEO, Joachim Samuelsson, will present insights from this white paper at the Digital Currency Conference, scheduled for May 28-29, 2025, in Bangkok, Thailand. In his Pecha Kucha presentation, Samuelsson will discuss how offline payment solutions can provide improved service availability and security, addressing key industry pain points.

The white paper is now available for download on the Crunchfish website at https://www.crunchfish.com/whitepapers/ . For more information about the Digital Currency Conference, please visit this link.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the above for publication on 27th May 2025 at 10:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep fintech company pioneering a Digital Cash solution that enhance resilience, flexibility, and scalability in payment ecosystems. The patented offline payment architecture supports both payment network providers and payment service providers in modern commercial payment systems and evolving CBDC initiatives. Headquartered in Malmö, Sweden, Crunchfish drives innovation to shape the future of payments.

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