Jupiter, the Solana-based decentralized exchange (DEX) aggregator, revealed its acquisition of self-custody crypto wallet firm Ultimate Wallet on Tuesday.
Jupiter, the Solana-based decentralized exchange (DEX) aggregator, revealed its acquisition of self-custody crypto wallet firm Ultimate Wallet on Tuesday. In an announcement, Jupiter stated that its "mobile initiative to onboard tens of millions of users is beginning" and is set to enter beta testing in May. The acquisition of Ultimate Wallet aligns with Jupiter's mobile strategy, as the company aims to leverage the expertise and technology of Ultimate Wallet to enhance its own mobile offering.
Ultimate Wallet also confirmed the acquisition on X, stating that Jupiter, recognized as Solana's leading exchange, has taken over their mobile team. They assured users that their funds are safe and that they can continue using the wallet normally until May 22nd, 2024, when the current Ultimate app will sunset.
Jupiter's move to acquire Ultimate Wallet signifies its commitment to expanding its reach and improving the user experience for mobile users. By integrating the capabilities of Ultimate Wallet's DeFi mobile app, Jupiter aims to accelerate the development of Jupiter Mobile, its mobile platform.
Solana, known for its high throughput and low fees, has witnessed significant growth in the decentralized finance (DeFi) space. Jupiter's acquisition of Ultimate Wallet positions the DEX aggregator to tap into this growing market and attract a broader user base by offering a seamless and user-friendly mobile experience.
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