We are very proud to announce the addition of Nick Szabo to the JAN3 team as we ramp up efforts to accelerate the global adoption of Bitcoin. I’ve known Nick for nearly 10 years now and have always been a big fan of his work – collaborating on advancing Bitcoin adoption just seems like a natural next step.

Szabo's Role at JAN3

As Chief Scientist, Nick Szabo will spearhead our research initiatives to advance JAN3's mission of Accelerating Hyperbitcoinization. Nick will explore Bitcoin's implications on topics ranging from monetary policy to international trade, and financial sovereignty. His forthcoming publications will provide in-depth analyses comparable to his seminal work, "Shelling Out: The Origins of Money," which explores the historical evolution of money and its relevance to digital currencies. 

Leveraging his expertise, we hope to develop innovative strategies as we engage nation-states to integrate Bitcoin into their financial systems. We believe that Nick’s insights will be instrumental in positioning Bitcoin as the new reserve asset in a modern financial system.

From Bit Gold to Smart Contracts

Nick is a renowned computer scientist, legal scholar, and cryptographer, celebrated for his pioneering work in digital contracts and currencies.

In 1998, Nick conceptualized "Bit Gold," a precursor to Bitcoin, aiming to create a decentralized digital currency that eliminated the need for trusted third parties. Although Bit Gold was never implemented, it has been called "a direct precursor to the Bitcoin architecture."

Nick is also credited with developing the concept of "smart contracts" in 1994. These are self-executing agreements embedded in code, a foundational element of various blockchain technologies today.

Nick has consistently denied being Satoshi Nakamoto, the pseudonymous creator of Bitcoin, but his extensive contributions to digital currency and cryptography have undeniably influenced the development of Bitcoin and other decentralized technologies.

A New Era in Global Finance

At the 2024 Plan ₿ Forum in Lugano, Nick delivered a compelling presentation on the historical evolution of international trade, payments, and the role of trust-minimized money like Bitcoin in reshaping modern finance. He emphasized how ancient trade relied on non-sovereign, globally recognized forms of money like gold and silver, which provided stability and trust across jurisdictions. Bitcoin, he argues, is a modern equivalent of these ancient technologies, offering the same trust minimization while adding global transferability and speed.

Nick noted that while Bitcoin adoption in trade is still in its early stages, companies are already developing the accounting, treasury, and operational expertise to integrate it into their workflows. This shift, he suggested, signals a return to a historically normal state of global commerce – one rooted in resilient, apolitical forms of money.

"All of the businesses that have developed treasury and accounting expertise with Bitcoin in international trade are crypto-centric companies now, but they’re paving the way for how Bitcoin can be integrated into larger, more traditional trade frameworks."

- Nick Szabo, JAN3 Chief Scientist  

A next step for JAN3 will be to foster and build the tooling required to help nation-states integrate Bitcoin in the same way. 

Watch Nick’s masterclass here:

A New Era for JAN3

Nick's addition to the JAN3 team marks a significant milestone in our journey towards global Bitcoin adoption. His unparalleled expertise and visionary thinking help us drive Bitcoin's integration into national economies, facilitating international trade, and enhancing global freedom.

As we continue to gather leading minds in the field, JAN3 remains steadfast in its commitment to bringing the sound money revolution mainstream, returning the power of money to individuals, rather than trusted third parties that are security holes.

We’re very excited to announce $5 million in seed funding to accelerate the development and expansion of the AQUA Wallet. This funding marks a pivotal step in our journey to make Bitcoin accessible, practical, and transformative for users around the globe.

Our seed round is led by Fulgur Ventures with participation from Grupo Salinas, Tether, Lightning Ventures, East Ventures, Plan B Fund, Bitcoin Opportunity Fund, and NYDIG. We’re honored to have such incredible partners backing us and their support underscores the growing momentum for Bitcoin’s global adoption. 

“At Fulgur Ventures, we are dedicated to supporting visionary entrepreneurs who are building the financial infrastructure of the future. Our investment in JAN3 reflects our confidence in their mission to accelerate Bitcoin adoption globally. We believe that JAN3's innovative approach will play a pivotal role in advancing the Bitcoin and Liquid Network ecosystems and we are excited to support JAN3’s journey towards bringing about a more inclusive and efficient financial system.”

- Oleg Mikhalsky, Partner at Fulgur Ventures

Strategic Investors

For this round we looked for investors who could do more than just provide capital – we wanted partners who align with our mission and are strategic to our expansion plans for Latin America and Asia. 

Grupo Salinas, founded by Ricardo Salinas, is a Latin American powerhouse with a diverse portfolio of companies, including Banco Azteca, Elektra, and TV Azteca. Banco Azteca, in particular, focuses on financial inclusion, providing banking services to middle and lower-income families across Latin America.

In Asia, East Ventures brings its regional expertise to the table. As a leading investor in Indonesia and Japan, they have been instrumental in driving innovation across Southeast Asia. Co-founder Batara Eto is a trailblazer in the Bitcoin space, spearheading the transformation of Metaplanet into a Bitcoin Treasury company.

As the world’s largest stablecoin issuer, Tether (USDt) has been a game-changer in providing access to digital dollars for people in emerging economies. With Tether’s unparalleled network effects and JAN3’s easy-to-use AQUA Wallet, we aim to bring Bitcoin and financial freedom to the Global South.

“Tether is excited to support the work JAN3 is doing to advance financial freedom around the world. JAN3’s AQUA wallet has found excellent product-market fit by offering the perfect balance of saving in Bitcoin with spending in USDt.”

- Paolo Ardoino, Tether CEO

Bitcoin Treasury

Our new funding follows an oversubscribed pre-seed round of $620,000 that was closed in early 2023. As part of the current seed financing, $1 million of capital will be allocated to establish a Bitcoin Treasury for JAN3, consisting of 12 BTC, acquired at an average cost of $83,333.33 per BTC.

Driving AQUA Forward

In 2024 we’ve been seeing rapid growth in both user adoption and volumes, with the month of November 2024 alone crossing $11 million in swap volume. This shows us that we’re heading in the right direction and that it’s the opportune time to ramp up our development and marketing teams.

The new seed funding will take AQUA to the next phase of its mission to onboard a billion people to Bitcoin. The focus for the past year has been optimizing the core AQUA offering: seamless swaps across Bitcoin layers and with Tether USDt – all in a self-custodial wallet. With the new funding, our priority will shift to growth and adding more Marketplace integrations, such as credit cards, loans, and local on/off ramps.

“We’ve managed to create a Bitcoin Superapp that’s able to deliver real utility and is being used in daily life around the world. It just works, and it’s only going to get even better.”

- Samson Mow, JAN3 CEO

Looking Ahead

The $5 million we’ve raised will accelerate our plans to rebuild the global financial system on a Bitcoin Standard. 

With the AQUA Wallet, our aim has been to bridge gaps in the global financial system and provide solutions for those who have been left behind. Whether it’s helping families in Latin America find stability in uncertain economies, enabling small businesses in Southeast Asia to thrive, or providing savings tools for individuals in underbanked regions, AQUA is making Bitcoin accessible to anyone who wants to take control of their finances.

Just a note that we had saved this historic date of January 3rd, 2025 for this announcement.