Jupiter acquires Rain.fi to bolster credit market growth as JUP hovers near record low
Crypto Briefing
Jupiter acquired Rain.fi to integrate its fixed-term lending features and accelerate on-chain credit market growth on Solana.Summary
Decentralized exchange Jupiter has acquired Rain.fi, a platform focused on scaling the credit market on Solana using fixed-term loans. This acquisition aims to enhance Jupiter's ecosystem and accelerate on-chain credit market growth. Rain.fi will continue operating for several months while its key features are migrated into the Jupiter platform before the app is eventually shut down. During this integration, stJUP deposits have been halted, although users will continue to receive JUP token rewards until the next ASR cycle. The acquisition comes as Jupiter's native token, JUP, is trading near record lows, hovering around $0.21 amid a broader market downturn.
(Source：Crypto Briefing)