Jupiter Acquires Ultimate Wallet: Mobile Initiative Announced
Jupiter, a leading decentralized exchange (DEX) aggregator on the Solana blockchain, made a significant move on April 23 by acquiring Ultimate Wallet and its mobile team. This acquisition is part of Jupiter’s strategy to expand its user base through mobile platforms, with a beta launch scheduled for May.
Jupiter aims to leverage Ultimate Wallet’s technology and team to enhance its mobile offering, providing users with high-speed on-chain trading experiences on Solana. With a weekly trading volume exceeding $10 billion, Jupiter is positioning itself as the top trading platform on Solana.
Ultimate Wallet users were informed that the current app would be sunsetted on May 22, 2024, but their funds would be secured during the transition period. Starting May 23, users can retrieve their recovery phrase and access their cloud backups.
In addition to the acquisition, Jupiter is launching its Jupiter Mobile initiative, which will allow users to trade any token without fees, offering a more convenient and cost-effective trading experience within the Solana ecosystem. The DEX has experienced significant growth, with $381.49 million in total value locked and an 86% month-over-month increase.
Solana’s growth has been fueled by the recent memecoin craze, with SOL becoming the third largest cryptocurrency by market cap. The acquisition of Ultimate Wallet and the launch of Jupiter Mobile signal Jupiter’s commitment to expanding its offerings and capitalizing on the growing interest in decentralized finance on Solana.
