Crypto exchange Jupiter acquires blockchain explorer SolanaFM

Decentralized trading platform Jupiter is acquiring blockchain explorer SolanaFM to expand its capabilities, leveraging the exchange’s infrastructure.

Solana-based decentralized crypto exchange aggregator Jupiter has acquired Etherscan-backed blockchain explorer SolanaFM. In an X announcement on Sept. 20, the blockchain explorer said it will focus on “10x-ing the data and infrastructure capabilities on Jupiter,” adding that the platform will “continue to operate as usual.”

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 managed to secure investments from a funding round led by Etherscan and Coinhako.

Alongside the acquisition, Jupiter announced 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, including Apple Pay, Google Pay, and credit cards, furthering accessibility for users. Following the news, Jupiter’s (JUP) token gained 11%, soaring to $0.87.

The acquisition and product launch comes as Jupiter grapples with security threats. In August, the exchange warned users about a malicious Chrome extension named “Bull Checker” targeting Solana users. Jupiter identified this extension after extensive investigations into user complaints, highlighting ongoing risks in the ecosystem even as Jupiter seeks to expand its services and market presence.