Decentralized trading platform Jupiter has announced the acquisition of blockchain explorer SolanaFM to expand its capabilities.
SolanaFM Acquisition
Solana-based decentralized crypto exchange aggregator Jupiter announced the acquisition of blockchain explorer SolanaFM. SolanaFM stated that it will focus on significantly increasing data and infrastructure capabilities on the Jupiter platform, while continuing to operate as usual.
SolanaFM History
Launched in 2021, SolanaFM provides users with detailed insights into Solana's network data, including transaction history, 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. In December 2021, SolanaFM also secured investments from Etherscan and Coinhako.
Jupiter's Future Plans
Alongside the acquisition, Jupiter announced the launch of Jupiter Mobile, a fee-free mobile app built in partnership with MoonPay. While the app's launch date remains undisclosed, it will support major payment methods, such as Apple Pay, Google Pay, and credit cards, furthering accessibility for users. These efforts come amid security threats faced by Jupiter, including a recent warning about a malicious Chrome extension named 'Bull Checker'. These steps aim to help the platform strengthen its market position.
The acquisition of SolanaFM and the announcement of new products reflect Jupiter's ambition to strengthen its market position despite existing risks.
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