Jupiter, the decentralized exchange and liquidity aggregator on Solana, has integrated with Anchorage Digital’s institutional-grade wallet Porto, a move that could accelerate the institutional access to Solana’s decentralized finance ecosystem.
Anchorage Digital, a leading crypto bank and digital assets platform, revealed the integration on Tuesday, noting it will add institutional access to Solana via Jupiter.
Specifically, Anchorage is adding support for Solana DeFi through its self-custody wallet, Porto. Native integration of Solana’s top DEX platform with the Porto wallet will allow institutional investors direct access to decentralized finance applications in the Solana (SOL) ecosystem.
Porto support addresses challenges that have slowed institutional traction for DeFi on the SOL network. Having access to a leading liquidity aggregator and optimal trade-execution platform is a big plus for users as they navigate security and complex operational processes, Anchorage noted.
The Jupiter (JUP) exchange’s DEX ecosystem dominates the Solana market. The platform offers access to swaps, lending, mobile trading, perpetuals, portfolio management, and token launches.
Jupiter Lend, which went recently went live in public beta, offers access to money markets on Solana. Users can access key features such as highest loan-to-value ratios, lowest liquidation penalties and high annual percentage yields.
Meanwhile, Solana has recently recorded rapid growth in demand for SOL-related investments, with data showing the cryptocurrency attracted over $291 million in inflows into Solana exchange-traded products.
CoinShares’ latest weekly report indicated that Solana ETPs have accumulated nearly $1.9 billion in inflows year to date, outpacing sector behemoths Bitcoin and Ethereum. Analysts say the impending approval of Solana spot exchange-traded funds will accelerate this growth.
DeFiLlama data show more than $29 billion in total value locked is currently in Solana protocols, with over $3.86 billion in TVL on Jupiter.