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Solana decentralized exchange aggregator Jupiter has expanded its reach by acquiring Ultimate Wallet, a self-custody crypto wallet firm.
The purchase is part of Jupiter’s strategy to enhance its mobile capabilities and attract millions of new users. According to Jupiter’s announcement, adding Ultimate Wallet marks the beginning of its mobile initiative, which is set to enter beta testing in May.
The company plans to integrate Ultimate Wallet’s technology and team into its mobile platform, Jupiter Mobile, to accelerate its development and improve user experience.
The Jupiter Mobile Initiative to onboard tens of millions of users is beginning.
— Jupiter 🪐 (@JupiterExchange) April 23, 2024
Trade any token, anywhere, with 1 click and 0 fees, ready for beta in May.
We’ll be one step closer to getting your mum to use Jupiter too 🧓
Credits: @FamousCloudzz for the clip. pic.twitter.com/K4v7IsCSdB
“We’re excited to share that Ultimate and our mobile team has been acquired by Jupiter, Solana’s leading exchange,” Ultimate Wallet confirmed in the announcement.
The company assured users that funds were safe and provided details about the transition, including the sunset date for the current Ultimate app, May 22.
The acquisition of Ultimate Wallet aligns with Jupiter’s goal of expanding its user base and enhancing its mobile offerings, signaling further growth in the decentralized finance (defi) space.
📱We’re excited to share that Ultimate and our mobile team has been acquired by Jupiter, Solana’s leading exchange. Jupiter has grown to become the #1 place to trade on Solana regularly clearing $10B+ weekly volume. Now they extend their product offering into native mobile.
— Ultimate Wallet (@UltimateApp) April 23, 2024
Back in February, Jupiter airdropped its JUP token to many investors who have used its aggregator tools. JUP is now Solana’s main decentralized exchange (DEX) coin.
Read more: Jupiter explodes higher with a 140% price increase