Decentralized trading platform Jupiter has announced its acquisition of blockchain explorer SolanaFM to enhance its capabilities and leverage the exchange’s infrastructure.
Jupiter, a Solana-based decentralized crypto exchange aggregator, has acquired SolanaFM, which is backed by Etherscan. In an announcement on X on September 20, SolanaFM stated it will focus on significantly enhancing the data and infrastructure capabilities on Jupiter while continuing to operate as usual.
Founded in 2021, SolanaFM offers users detailed insights into Solana’s network data, including transaction histories, smart contracts, and token information. In 2022, the explorer secured $4.5 million in a seed funding round led by SBI Group’s Digital Asset Opportunity Fund, and in December 2021, it received additional investments from a round led by Etherscan and Coinhako.
In addition to the acquisition, Jupiter revealed the launch of Jupiter Mobile, a fee-free mobile app developed in partnership with MoonPay. While the launch date for the app has not been disclosed, it is set to support major payment methods, including Apple Pay, Google Pay, and credit cards, making it more accessible for users. Following the news, the price of Jupiter’s token increased by 11%, reaching $0.87.
This acquisition and product launch come as Jupiter navigates security challenges. In August, the exchange alerted users about a malicious Chrome extension called “Bull Checker,” which was targeting Solana users. Jupiter identified the extension after thorough investigations into user complaints, underscoring ongoing risks in the ecosystem as the platform aims to expand its services and market presence.