Eulen Joins the Liquid Federation

Eulen is now a member of the Liquid Federation, the group of companies that collectively operate the Liquid Network. The announcement was published on 29 January 2026, when Liquid welcomed seven new members: Cowbolt, Eulen, illuminodes, Mooze, OrderMoon, Sorted Wallet, and SOUSTA. The Federation now counts 87 members.

Why This Matters

DePix, the Brazilian Real-pegged stablecoin issued by Eulen, has operated on the Liquid Network since launch. Federation membership moves Eulen from participant to operator: the companies in the Federation are the ones that run the infrastructure securing the network and its two-way peg with Bitcoin.

For the platforms and traders that settle through us, this means the settlement layer underneath DePix is one we help operate directly, rather than one we merely consume.

Eulen in the Announcement

Liquid described Eulen as enabling permissionless cross-border remittances across Latin America through DePix, serving more than 100,000 unique monthly users across its network of P2P and OTC desks.

What Changes for Partners

Nothing in day-to-day operations. DePix issuance, settlement, and partner integrations continue unchanged. What changes is the depth of our position in the stack: as a Federation member, Eulen participates in the operation of the network its product depends on.

Read the full announcement on the Liquid blog.