Decentralized trading platform Jupiter is set to acquire SolanaFM, a blockchain explorer, to expand its infrastructure and capabilities. Announced on September 20 via X, SolanaFM stated that it will focus on significantly enhancing data and infrastructure for Jupiter, while continuing normal operations.
Founded in 2021, SolanaFM offers detailed insights into Solana’s network data, including transaction histories, smart contracts, and token information. The explorer secured $4.5 million in a seed funding round in 2022, led by SBI Group’s Digital Asset Opportunity Fund, and received additional investments from Etherscan and Coinhako in December 2021.
FM x JUP
We’re excited to announce that SolanaFM has been acquired by @JupiterExchange, @solana’s leading decentralized exchange. pic.twitter.com/pJ3LA8F8sp
— SolanaFM (@solanafm) September 20, 2024
In conjunction with the acquisition, Jupiter also introduced Jupiter Mobile, a fee-free mobile app developed in partnership with MoonPay. Although the launch date is yet to be announced, the app will support major payment methods like Apple Pay, Google Pay, and credit cards, enhancing accessibility for users. Following the news, the Jupiter token surged by 11%, reaching $0.87.
This acquisition and product launch come as Jupiter addresses security challenges. In August, the exchange alerted users about a malicious Chrome extension called “Bull Checker” that was targeting Solana users. The identification of this threat underscores the ongoing risks within the ecosystem as Jupiter aims to expand its services and market presence.
The post SolanaFM Joins Forces with Crypto Exchange Jupiter appeared first on Koinreport.
