Jupiter Sets Sights on Mobile Trading by Acquiring DeFi Wallet App, Enhancing Solana DEX Capabilities
Jupiter, a decentralized exchange (DEX) aggregator on the Solana blockchain, has recently acquired Ultimate Wallet, a decentralized finance (DeFi) wallet. This acquisition is part of Jupiter’s strategy to attract more people to the world of cryptocurrency. The plan is to utilize Ultimate Wallet’s technology and team to enhance Jupiter Mobile, a mobile trading platform set to launch in May. The goal is to accelerate the adoption of crypto by reaching a wider audience. Jupiter currently holds the top position among decentralized exchanges on Solana, with a 24-hour trading volume of over $709 million, accounting for 10% of the market share. Ultimate Wallet has announced that it will discontinue its app following the acquisition, and users have until May 22nd to access their wallets. This transition is expected to be seamless, with Ultimate Wallet ensuring that users can retrieve their recovery phrase and access their cloud backup.