Company: TLGYF
Filing Date: 2025-07-22
Form Type: 425
Source: 0001213900-25-066736
Chunk: 4

Company: TLGY ACQUISITION CORP
Filing Date: 2025-07-22
Form: 425
Chunk 4
---
 given that Global Central Bank appetite for U.S.
debt has been decreasing due to geopolitical tensions, making Stablecoin issuers more important than ever in maintaining demand for U.S.
Treasury Securities.

As U.S. Treasury Secretary Scott Bessent aptly
put it, we are going to keep the U.S. the dominant reserve currency in the world, and we will use Stablecoin to do that. This statement
underscores the strategic importance of Stablecoin in preserving the U.S. dollar’s global reserve currency status.

Stablecoin have been aptly described as room-temperature
superconductors for money due to their ability to make money open, instant, frictionless, and borderless. This transformative power is
evident in their rapidly growing transaction volume, which now rivals some of the world’s largest traditional payment networks.

As of May 31st, 2025, Stablecoin boast an impressive
$33 trillion in total transaction volume over the prior 12 months, putting them in the same league as Visa and significantly surpassing
PayPal. This rapid acceleration in transaction volume is a testament to their fundamental advantages.

Stripe, a major payment processor, acknowledges
this, stating that Stablecoin represent a payment innovation with the potential to expand access to secure, reliable, and convenient payments
globally.

The core characteristics of Stablecoins, cheaper
and faster money movement, decentralization, open access, and programmability are driving this revolution, layering the groundwork for
exciting new financial services and applications.

Despite the significant growth we’ve already
witnessed, the Stablecoin market still represents an enormous untapped opportunity. Reaching a projected $1.9 trillion in Stablecoin supply
by 2030 would constitute 9% of the U.S. M2 money supply and imply a fairly reasonable 45% compounded annual growth rate, CAGR, when compared
to the 115% CAGR witnessed over the past five years.

Looking at the market opportunity from a user
perspective, there are currently only 166 million Stablecoin users globally. While this is a considerable number, it pales in comparison
to the 5.9 billion people with financial accounts worldwide and represents what we believe is only about 3% of the addressable market.
This stark contrast underscores the vast potential for future growth and adoption, making the Stablecoin sector a compelling long-term
investment theme.

<div align='center'>4</div>

The growth opportunity in Stablecoin is particularly
pronounced