Secures First Right of Refusal, Strengthening Competitive Advantage in Blockchain Market

NEW YORK and KUALA LUMPUR, Malaysia, May 13, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) ("Treasure Global" or the "Company"), an innovative technology solutions provider, has announced its emergence as the exclusive partner for an AI Blockchain Wallet on Telegram, marking a significant stride in the blockchain industry.

Originating from a Poland licensed blockchain company, this AI Blockchain Wallet revolutionizes decentralized transactions. It allows users to seamlessly perform transfers, deposits, coin swaps, cross-chain operations, and staking, all through a user-friendly one-button application on Telegram.

By securing the first right of refusal, Treasure Global not only solidifies its competitive advantage in the blockchain market but also opens up avenues for revenue expansion and portfolio growth. This strategic collaboration underscores Treasure Global's commitment to spearheading innovation and embracing emerging technologies, further enhancing its position for robust growth and generating revenue through profit-sharing opportunities.

According to a report from Grand View Research, the global crypto wallet market is expected to experience substantial growth, with a projected compound annual growth rate ("CAGR") of 24.8% from 2023 to 2030, reaching an estimated value of $48.27 billion by 2030.1 Furthermore, the market has seen a remarkable increase in blockchain wallet users, with a surge from just over 10 million users in 2016 to more than 80 million users in 2021.2

Additionally, recent research highlighted that the global crypto wallet market was valued at $8.1 billion in 2022 and is anticipated to expand at a CAGR of 30.76% during the forecast period, aiming to reach $40.2 billion by 2028.3

"Through this partnership, Treasure Global gains access to a rapidly growing market, enabling the company to capitalize on the increasing financial awareness, widespread use of digital assets, and the growing acceptance of blockchain-based solutions by businesses worldwide. Leveraging these market trends, Treasure Global is poised for significant revenue growth and market leadership in the blockchain industry," said Sam Teo, Chief Executive Officer of Treasure Global.

1

2

3

About Treasure Global Inc:
Treasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital food and beverage management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in Southeast Asia for popular restaurant chains, while providing them with the TAZTE solution. As of March 19, 2024, ZCITY boasts over 2,695,549 registered users.

For more information, please visit

Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate" and "continue" or similar words. It is important to carefully consider statements containing these words as they discuss future expectations and plans, projecting future results of operations or financial conditions or presenting other forward-looking information. Forward-looking statements are not guarantees of future performance; they are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company. These risks and uncertainties are detailed in the Risk Factors section of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2023, and subsequent filings with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. As forward-looking statements cannot be predicted or quantified, actual results may differ materially from those expressed or implied by such statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

For further information, please contact:
Investor Contact
ir_us@treasuregroup.co

Media Contact
Sue Chuah, Chief Marketing Officer
Treasure Global Inc
sue@treasuregroup.co