Solana Decentralized exchange aggregator Jupiter has expanded its footprint with the acquisition of self-custodial cryptocurrency wallet company Ultimate Wallet.
The purchase is part of Jupiter’s strategy to strengthen its mobile capabilities and attract millions of new users. According to Jupiter presentationThe addition of Ultimate Wallet kicks off a mobile initiative scheduled 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 development and improve user experience.
“We are excited to share the news that Ultimate and our mobile team have been acquired by Jupiter, Solana’s leading exchange,” Ultimate Wallet said in the announcement.
The company assured users that their funds were safe and provided details about the transition, including May 22, which is the current end date for the Ultimate app.
The Ultimate Wallet acquisition is consistent with Jupiter’s goals to expand its user base and enhance its mobile services, which means further growth in the decentralized finance (DeFi) space.
Last February, Jupiter airdropped JUP tokens to a number of investors who used its aggregation tool. JUP is now Solana’s primary decentralized exchange (DEX) coin.