Coinspeaker
Jupiter Acquires SolanaFm and Coinhall to Expand Solana Ecosystem Offerings
Decentralized exchange aggregator Jupiter announced two pivotal acquisitions at the Solana Breakpoint event in Singapore on September 20, 2024. Jupiter’s co-founder, Siong Ong, revealed the acquisition of blockchain explorer SolanaFM and on-chain trading terminal Coinhall, aiming to strengthen the platform’s data and trading features.
SolanaFM, a well-known provider of blockchain data on the Solana network, offers advanced indexer and explorer tools. In 2022, it secured $4.5 million in funding from SBI Group. The integration with Jupiter is expected to significantly enhance the platform’s data infrastructure. SolanaFM emphasized its ambition to amplify Jupiter’s capabilities by 10x, as expressed in its post on X (formerly Twitter).
FM x JUP
— SolanaFM (@solanafm) September 20, 2024
We’re excited to announce that SolanaFM has been acquired by @JupiterExchange, @solana’s leading decentralized exchange. pic.twitter.com/pJ3LA8F8sp
Jupiter Expands with Cross-Chain Focus
In addition to acquiring SolanaFM, Ong also confirmed the acquisition of Coinhall, a leading DEX aggregator across the Cosmos blockchain ecosystem. Coinhall, serving over 225,000 users across 23 blockchains, plays a pivotal role in decentralized multi-chain trading. This acquisition strengthens Jupiter’s cross-chain trading framework, expanding its liquidity network across blockchains like Solana and Cosmos.
While the financial details of the acquisitions remain undisclosed, Ong stated that these acquisitions align with Jupiter’s goal of creating a more dynamic and user-focused platform. The integration of SolanaFM and Coinhall highlights Jupiter’s ongoing effort to scale its infrastructure and provide users with richer, data-driven experiences.
Apart from these acquisitions, Jupiter is introducing new products aimed at improving user engagement. One upcoming release is Jupiter Mobile, which was built in partnership with MoonPay. The app will launch soon and enable cryptocurrency trading via Apple or Google Pay without platform fees, appealing to new and experienced traders.
Make millions onboard on Solana – with Jupiter Mobile
— Jupiter 🪐 (@JupiterExchange) September 20, 2024
We want to make it friction-free to use Solana with Jupiter Mobile.
Jupiter Mobile will launch soon, with 0 platform fees, full onramp using Apple/Google Pay or Credit Cards.
Coupled with a 1-tap swap experience, onboarding… pic.twitter.com/B6q5iLLeLj
Jupiter Advancements in DeFi Tools
Jupiter is strengthening its position in decentralized finance (DeFi) with the upcoming release of Metropolis, an API platform that offers liquidity solutions for tokens, prices, and swaps. According to Ong, the platform consolidates all liquidity needs into a single set of APIs, providing developers with an efficient way to manage liquidity.
In addition, Jupiter introduced Ape.Pro, an enhanced version of its meme coin trading platform. This new version will feature mobile trading, memecoin minting, and social login options to make the platform more accessible. By expanding into the meme coin market, Jupiter is tapping into popular trends while ensuring its infrastructure remains strong.
Jupiter’s acquisition of SolanaFM and Coinhall signals a significant move in the Solana and Cosmos ecosystems. Alongside these acquisitions, the launches of Jupiter Mobile, Metropolis, and Ape.Pro position the platform as an innovative force in DeFi, offering a wide range of tools for traders, developers, and enthusiasts across multiple blockchains.
Jupiter Acquires SolanaFm and Coinhall to Expand Solana Ecosystem Offerings
