Ultimate Wallet, known for its innovative mobile wallet technology, was acquired by Jupiter, a leading decentralized exchange (DEX) aggregator on the Solana blockchain, announced on April 23. The agreement aims to boost Jupiter's mobile presence and attract a larger base of active users.
Jupiter announced in a recent post on X that it plans to launch a beta version of its new mobile initiative in May, seeking to integrate advanced trading functions for millions of users in the Solana ecosystem. Ultimate Wallet, which also confirmed the deal in its own statement on X, expressed excitement about joining one of the most robust and fast-growing DEX platforms on the market.
Current Ultimate Wallet users can use the wallet as usual until May 22, 2024. From that date onwards, the application will be discontinued, but users will be able to recover their recovery phases and will continue to have access to cloud backups. The Ultimate Wallet team is committed to ensuring a smooth and secure transition for all users and has created a detailed tutorial to help you export your wallets.
When you want to build the best products, you need the best starting point.
That's why we're thrilled to say that we have acquired @UltimateApp.
They're one of the best DeFi mobile apps, and we're going to leverage their technology and team to turbocharge Jupiter Mobile. pic.twitter.com/MmYIkisST7
— Jupiter 🪐 (@JupiterExchange) April 23, 2024
The acquisition not only expands Jupiter's offerings, but also marks the launch of the Jupiter Mobile Initiative, a new mobile application that allows trading of any token without charging fees. This move aims to make trading more convenient and cost-effective, reinforcing Jupiter's position as the leader in DEX trading on Solana.
Currently, Jupiter is one of the most popular decentralized applications on Solana, with $381,49 million in total value locked (TVL), an 86% increase month over month. The DEX accounts for about 8% of the Solana ecosystem's total TVL, and its JUP token has reached a fully diluted market cap of $12,5 billion.
