Many of the image formats we’re familiar with have been around for decades. We all know JPEG and PNG like the back of our hands, and GIF even had a bit of a resurgence when tiny annoying looping animations became cool again on social media. There has been a growth in newer formats, though, like WEBP, and AVIF, with various platforms and software companies adopting them for greater efficiency, performance, and image quality.
Amongst the new crop of formats vying for relevance is JPEG XL. It was touted as a format that improved on what JPEG could do in the lossy compression space, while also adding on a lossless mode. There were grand hopes that it would become a universal replacement for all existing raster formats on the Web. A major problem was that Google was seemingly against it, only to backflip—with the format now slated to hit the big time with renewed backing from the search giant. So what’s going on?
Got You JPEG’d
The JPEG XL codec architecture. Credit: Jon Sneyers, CC BY SA 4.0
The JPEG XL standard is modern, but by no means brand new. It was initially released on 13 October 2021, having been developed by a consortium of the Joint Photographic Experts Group, Google, and Cloudinary. It was deveoped from earlier work from Jon Sneyers on the Free Universal Image Format (FUIF), and work from Google on the PIK format.
It was decided the resulting format would use the *.jxl file extension. The spec defined a format with a wide range of features well beyond what classic JPEG ever offered. It has lossless compression, including for the alpha channel, but also lossy compression available in different modes to suit both photographic and synthetic imagery.
It remains fast to decode—almost as fast as JPEG and much quicker than HEIC with x265. A key future proofing feature is that it can also handle 32-bit sample precision, and images with over a billion pixels per side—that’s a terapixel, if you’re playing along at home.
The JPEG XL logo, which pretty much solely exists for people who need an image for their article about JPEG-XL. Credit: Joint Photographic Experts Group
A wide range of major tech companies have backed the standard in the years since it dropped, from Meta, to Adobe, Intel, and Flickr. While it might seem like Google was fully onboard from the get-go, having literally been involved in development of the standard, the history is more complicated, as reported by TT Lab.
Chromium implemented a libjxl-based decoder all the way back in 2021, which seemed to signal JPEG-XL support would soon be a thing in Chrome and other products besides. However, soon enough, there was a change in direction. In late 2022, it was slated for removal, with a notice that ecosystem support wasn’t great enough to justify continued efforts to bring JPEG-XL into the fold.
In Chrome 110, there was no trace left—JPEG-XL was not going to be a part of things. And yet, in the years that followed, debate raged on the Chrome issue tracker as to whether the nascent format would earn its inclusion. Elsewhere, JPEG-XL was struggling to find a footing. Apple rolled it into Safari in 2023, while Mozilla continued to hedge, noting that including another C++ image decoder was undesirable for reasons around memory safety.
A screenshot of an Android media app displaying a *.jxl image. Credit: Syced, CC0
New movement happened in November 2025, when Rick Byers, Area Tech Lead on Google Chrome, noted that the landscape had shifted. He posted that in light of JPEG-XL support being added to things like the PDF format and Safari, amidst other signals of support in the wider ecosystem, that the development team would be open to “integrate a performant and memory-safe JPEG XL decoder in Chromium.”
With Chrome having over 65% of the browser market, this would be a game changer for the format and likely see its adoption skyrocket across the web. It just needed to actually be implemented. However, Byers was careful to note that the inclusion of the new format would be contingent on a commitment to long-term maintenance of the decoder.
Things moved fast, and when Chrome 145 dropped in February this year, JPEG-XL was on the docket. This was thanks to the development of the jxl-rs decoder, which was implemented in Rust. This was an intentional decision for security reasons, with Google relying on the Rule of 2 to keep its browser safe. However, the new decoder was not activated by default. It would take another half a year or so before the new format would become a mainstream part of Chrome, rather than being hidden behind an experimental flag or anything like that. As of Chrome 155, though, JPEG-XL will be fully supported in the browser.
Don’t expect to see a ton of *.jxl files out on the wider web immediately. However, with the new format offering 30-50% better compression than JPEG, it will be appealing to just about any content provider looking to slimline data budgets and improve page loading times. When the performance gains start boosting traffic to a degree that makes up for the loss of users from older non-compliant browsers, expect to see things changing more quickly.
What does it mean for you, the end user? Probably little more than some minor headaches. You’ll struggle here and there when you download a *.jxl and try and load it into older software that doesn’t support it. You might get a device that shoots pictures in JPEG-XL and then find you can’t upload them to an older website with an out-of-date image submission form.
It’s the same problem we’ve all dealt with as HEIC, AVIF, and WEBP have started bouncing around the web, and we’ll have to weather it again. At least, at the end of the day, we’ll have slightly prettier images that take up a little less space. It’ll all be worth it, to be sure.
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DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.
Bitcoin treasury Strive’s preferred stock, SATS, is now trading on the Nasdaq, according to the company.
The stock debuted Tuesday and will pay a 15% dividend every business day, according to an announcement.
Nasdaq-listed Strive said it closed its upsized initial public offering of 7,000,000 shares of SATS at a public offering price of $90 per share.
JUST IN: Strive’s 'SATS' has officially IPO’d on the Nasdaq, and is raising $630 million to buy more Bitcoin and income-generating assets pic.twitter.com/IxqeUENary
It comes as public companies work to financialize bitcoin via different products. OG bitcoin treasury Strategy, which has five different preferred stocks, proposed daily dividends for its products last month.
“The successful, upsized IPO of SATS marks a critical milestone in our strategy to maximize long-term total returns for our common equity investors,” Matt Cole, Chairman and CEO of Strive, said in a statement.
The Nasdaq-listed Strive also has SATA, another preferred stock, which pays a variable dividend.
Strive debuted as an official bitcoin treasury last year and is now the fourth biggest company in the space.
Founded by former Ohio gubernatorial candidate and tech entrepreneur Vivek Ramaswamy, the company holds 36,818 BTC worth over $3 billion at today’s prices. The company on Monday announced another bitcoin buy of 4,045 BTC between October 12 and 16.
In January 2026, it completed the acquisition of Semler Scientific in an all-stock deal — the first instance of a publicly traded Bitcoin treasury company acquiring another such company.
Like with other digital asset treasuries, the idea is that investors can get amplified returns from Strive’s stock. The company buys bitcoin with equity, and maintains a debt-free balance sheet: no bonds, no credit lines, and no leveraged positions that could trigger forced liquidation in a downturn.
Strive is following in the footsteps of software company Strategy, which started buying bitcoin in 2020. Strategy is now the largest corporate holder of bitcoin, with 848,517 coins worth over $60 billion.
Its five preferred stocks are STRF, STRC, STRK, STRD, and STRE.
Strive’s stock, ASST, was trading 4% higher on Tuesday.