In a landmark development for the Bitcoin and digital asset ecosystem, Joltz and Eulen have announced the upcoming launch of DePix, the first Brazilian stablecoin issued as a Taproot Asset on the Bitcoin network.
This collaboration not only pioneers a new era for stablecoins but also bridges the gap between Bitcoin’s Lightning Network and Brazil’s widely adopted PIX payment system.
A Synergy of Vision: Joltz and Eulen
Joltz, founded by two childhood friends with a passion for Bitcoin’s transformative potential, has been at the forefront of making the recently-released Taproot Assets protocol accessible for businesses and end users.
Their mission centers on meeting people where they are to accelerate adoption of bitcoin the asset as well as Bitcoin the network. As their website states:
“As the world’s first non-custodial wallet and SDK supporting Taproot Assets, Joltz enables support for bringing stablecoins to the Lightning Network with unprecedented speed and low transaction cost.
DePix, on the other hand, emerges as a solution tailored for the Brazilian market. Designed to blend seamlessly with Brazil’s PIX payment system, DePix offers instantaneous, secure transactions nationwide.
Their vision is clear: “Choose Decentralized PIX for a hassle-free and secure financial journey… Perfect for both domestic and international users, Decentralized PIX is your gateway to seamless cross-border payments, connecting Brazil with the world.”
Depix: Bridging Bitcoin and PIX
DePix is a Brazilian Real–denominated stablecoin set to revolutionize how Brazilians interact with digital assets.
By leveraging the Taproot Assets protocol, DePix becomes the first stablecoin issued directly on the Bitcoin network and integrates natively with the Lightning Network for fast and low-cost transactions.
Eduardo, the CEO behind Eulen, highlighted the significance of this development in a recent discussion:
“PIX has revolutionized payments in Brazil, but there’s a growing demand for privacy and sovereignty. DePix offers a stablecoin that brings these values to the forefront, giving users more control over their finances.”
By taking in Brazilian Reals and issuing DePix tokens backed by these reserves, a decentralized alternative is provided to traditional banking and payment systems. This model not only facilitates instantaneous transactions but also empowers users with greater financial autonomy.
Joltz: Enabling Next-Generation Financial Solutions
Joltz plays a pivotal role in this collaboration by providing the necessary infrastructure to make Taproot Assets accessible and functional for businesses and end-users alike.
Ian, co-founder of Joltz, elaborated on their mission: “We believe in meeting people where they are. Stablecoins on the Lightning Network are a crucial way to provide financial tools that align with users’ existing habits and needs.”
Joltz’s technology simplifies the complexity of the Taproot Assets protocol, allowing developers and businesses to integrate stablecoin and Lightning payments seamlessly into their applications.
This accessibility is crucial for widespread adoption, especially in emerging markets where financial systems often lack efficiency and inclusivity.
The global rise in stablecoin and Bitcoin adoption offers a unique chance to onboard more users to Bitcoin and Lightning by combining these trends.
To help Bitcoin earn its fair share of the stablecoin market, Joltz has built their SDK for coverage of a wide range of tech stacks and ensure a simple user experience; supporting Web, macOS, Windows, Linux and soon both iOS and Android.
Stephen, co-founder of Joltz, highlights the unique offerings available to developers, asset issuers, and end users.
He stated: “We want to provide the most intuitive Lightning experience for asset issuers, existing wallets, and end users by providing support for all major operating systems, abstracting away channel liquidity and management, and embedding a novel swapping service into our SDK that’s only possible via the Taproot Assets Protocol.”
He added: “These unique features combined, enable easy swaps between Bitcoin, stablecoins, and other assets at scale over Lightning.”
Stephen highlighted that their approach can conceptually combine a near infinite number of off-chain transactions into a single on-chain transaction, thus splitting on-chain fees to deliver near-zero-cost instant swaps that traditional submarine swaps can’t achieve at scale or cost-effectively.
The Power of Taproot Assets and the Lightning Network
The Taproot Assets protocol, developed by Lightning Labs, extends Bitcoin’s capabilities by enabling the issuance of assets on the Bitcoin blockchain without congesting the network.
When combined with the Lightning Network—which allows for rapid and low-cost transactions—the potential for scalable and secure financial solutions becomes a reality.
Ian emphasized the superiority of this approach, stating, “The Lightning Network is more scalable than any existing blockchain solution for stablecoins. By bringing stablecoins to Lightning, we’re unlocking new possibilities for global finance, from remittances to merchant payments.”
Empowering Brazilians with Financial Sovereignty
The introduction of DePix comes at a critical time for Brazil. With the Central Bank of Brazil advancing its own digital currency, the Drex (formerly known as the Digital Real), concerns about privacy and governmental control are at the forefront.
Eduardo addressed these concerns, stating, “People are worried about the lack of privacy with CBDCs. DePix offers an alternative that emphasizes user sovereignty and financial freedom. We are providing a tool that not only integrates with the existing PIX system but also gives users the privacy and control they deserve.”
He further explained how faster payment systems, while designed to increase control, can paradoxically make it harder for authorities to monitor and regulate transactions.
He explained: “They create a weapon that they believe they will control, but it can become uncontrollable because of speed. When the speed of money increases, enforcement becomes costlier and harder. This gives us, as entrepreneurs in the crypto space, the opportunity to create something within this system that connects to the Lightning Network, promoting privacy and sovereignty.”
This insight resonates with the idea that when a panopticon is built, it stares back. The concept, originally discussed by Andreas Antonopoulos, suggests that surveillance systems can inadvertently expose those who control them.
In the context of financial systems, while governments aim for increased oversight, the very technologies they adopt can enable greater freedom and privacy for users.
A Vision Beyond Borders
While the initial focus is on Brazil, both Joltz and Eulen see the potential for expanding this model to other countries, especially those with advanced instant payment systems and similar financial dynamics.
Eduardo shared his broader vision:
“We believe this is just the beginning. Countries around the world are advancing their payment systems, and there’s a global demand for financial tools that offer both efficiency and sovereignty. By integrating with systems like PIX and leveraging the Lightning Network, we can create solutions that are difficult to censor or control, empowering users everywhere.”
Conclusion
The partnership between Joltz and Eulen marks a pivotal moment in the evolution of digital finance.
By launching DePix as the first stablecoin issued as a Taproot Asset on the Bitcoin network, they are setting a new standard for how stablecoins can be securely and efficiently integrated into everyday transactions.
This initiative not only enhances financial sovereignty for users but also challenges traditional financial systems by offering a decentralized, scalable alternative.
It exemplifies how innovative technology can empower individuals, especially in regions where access to efficient and private financial tools is limited.
As DePix prepares to launch, it represents more than a technological milestone—it signals a transformative step towards a more inclusive and autonomous financial future.
This collaboration sets a powerful example of how decentralized solutions can reshape financial landscapes, fostering empowerment and freedom in places where it’s needed most.
For more information about Joltz, and Eulen please visit their official websites.
