Jupiter DEX Aggregator Acquires SolanaFM and Coinhall

• Jupiter acquired SolanaFM to enhance its data and infrastructure capabilities.
• Jupiter announced the launch of its mobile app with MoonPay integration.
• Jupiter is launching Metropolis, a unified API platform for liquidity solutions.

Siong Ong, Jupiter co-founder, revealed that it acquired blockchain explorer SolanaFM  at the Solana Breakpoint event in Singapore. The goal of this acquisition is to greatly improve Jupiter’s infrastructure and data capabilities. 

Notably, SolanaFM gives users access to and interaction with Solana data through its indexer and explorer tools. Jupiter’s overall service offerings will be enhanced and its presence in the blockchain space will be expanded with this move.

Focus on Data and Infrastructure Development

Consequently, SolanaFM claimed that the acquisition will free up the company to focus on tenfold growth in its data and infrastructure capabilities. It is anticipated that this development will provide developers and Jupiter users with more reliable solutions for creating and analyzing blockchain data. 

In 2022, SolanaFM secured a $4.5 million funding round from SBI Group, underscoring its potential within the blockchain ecosystem. Additionally, Jupiter plans to acquire Coinhall, an on-chain trading terminal that combines data from different decentralized exchanges on the Solana and Cosmos blockchains.. 

Currently, Coinhall caters to more than 225,000 users in 23 distinct chains, which makes it an advantageous acquisition for Jupiter. With this action, Jupiter will solidify its place in the multi-chain trading market.

Expansion into Mobile Trading

Additionally, Jupiter revealed a number of important updates that will soon be available. One of them is Jupiter Mobile, a brand-new smartphone app developed in association with MoonPay..

Besides, Jupiter users will be able to trade with no platform fees by using Apple or Google Pay thanks to this app. This project has the potential to increase the accessibility of decentralized trading for a larger group of people, especially those who favour mobile platforms for financial transactions.

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The impending release of Ape.Pro, an update to Jupiter’s current memecoin trading platform Ape, is another noteworthy development. With this update, users will be able to use social logins to trade and mint memecoins directly on mobile devices. It is anticipated that more people will use Jupiter’s ecosystem as a result of these new features.

Jupiter’s API Platform Launch: Metropolis

Additionally, Jupiter is going to introduce Metropolis, a new API platform that aims to offer liquidity APIs that are more extensive. By providing developers with a unified platform to access token, price, and swap APIs, Metropolis will expedite the integration of liquidity solutions. The goal of this effort is to streamline the development process and offer a single, comprehensive solution for all liquidity requirements.

Hence, Jupiter has demonstrated its dedication to augmenting its functionalities and elevating the user experience through these calculated acquisitions and updates. Jupiter intends to offer more comprehensive services across multiple blockchain networks by incorporating Coinhall and SolanaFM into its platform. The company’s emphasis on accessibility and innovation is further demonstrated by the introduction of Metropolis and Jupiter Mobile.