🥛 Jupiter: The rising super-app 🦸♂️

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The race to build the ultimate financial super-app is on.

A super-app is designed to bring all your financial needs into one place, with a clean interface and an experience that just works.

And the reason everyone’s chasing this idea is simple — the opportunity is massive.

People are over it — downloading yet another app, signing up for another account, and constantly sending money back and forth. It's just too much.

Right now, our financial lives are scattered across a dozen different apps.

• You log into your bank app to pay bills.
• You use Venmo to get money from a friend.
• You open Wise to send money abroad.
• You trade stocks on Interactive Brokers.
• You buy crypto on Coinbase.
• You save with Sky.
• You speculate on meme coins with PumpFun.
• You place bets on Polymarket.
• You ask ChatGPT for financial advice.
• You search Google for mortgage rates.
• And of course, you get financial clarity through Milk Road PRO ;)

The list goes on and the whole experience is clunky. 😤

But imagine one app that did all of it.

One place that satisfies all your needs, knows your full financial situation, helps you optimize your money, finds you the best deals, suggests portfolio changes or keeps you updated on your holdings…

If that existed, we’d all switch in a heartbeat.

We’ve seen this story play out before.

Take Walmart or Amazon. They started out by pulling together multiple products and services all in one place.

Over time, they built massive customer bases and then used that distribution to push their own products — boosting margins and improving profitability.

That’s what the real game is all about.

👉 At the end of the day, it all comes down to distribution. Capture the users, and you’ve already won half the battle.

A few months ago, we introduced Robinhood, which is likely leading the race to become a financial super-app.

Today, we’re continuing this series with a look at a lesser-known contender — one that’s flying under the radar with a market cap 72x smaller than Robinhood’s.

We’re taking a closer look at a rising super-app called Jupiter.

Yep, the same Jupiter you might know as a DEX aggregator on Solana.

But if you haven’t been paying attention, you might’ve missed their steady push to seriously compete in the super-app race.

That big list of financial needs up there? Well, not everything on it is doable yet, but a whole lot of it is.

So let’s take a closer look at what’s standing in the way of Jupiter really taking off and drawing in millions of new users.

Here’s what we’re diving into today:

• What is Jupiter building today and where is it headed next?
• Can Jupiter realistically compete with giants like Robinhood or Coinbase?
• What edge does Jupiter have over its competitors?
• Is $JUP worth considering as an investment right now?
• How big could Jupiter grow in the coming years?

If it turns out they actually have a real shot, we might need to rethink our original thesis of Jupiter being just a DEX aggregator.

And we might even look at adding to our current $JUP position.

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Alright, let’s kick things off with a quick intro to Jupiter — just in case you’re not familiar with it yet.

INTRO TO JUPITER

Jupiter kicked off in October 2021 as Solana’s very first onchain swap aggregator.

Here’s the problem they were trying to solve:

If you want to trade a token but aren’t sure which DEX gives you the best price, you use a swap aggregator.

👉 It pulls liquidity from all the different places and serves you the best price available.

So it is not surprising that people love it, and their DEX aggregator gets a ton of use!

Source: Ilemi/Dune

They’ve processed over $1 trillion in volume across 1.9 billion trades, coming from 52.6 million distinct addresses.

Those numbers say it all — these people know how to build something people actually use.

And it is actually quite surprising how it all started, because that’s something we don’t see very often.

Just two founders, no outside capital, completely bootstrapped.

That means no VC money or any external capital. Sounds almost unreal, right? And it gets even better.

The team wanted to show they’re in it for the long run, so they suggested locking up their token allocation for the next five years (ending 2030) to avoid any dilution.

It’s basically saying: “I could’ve cashed out and been a multi-millionaire by now, but I’m all in on building something huge and I’m ready to put in another 5 years to make it happen”.

That kind of commitment speaks volumes.

So here's the bottom line:

• Jupiter has a team that’s in it for the long haul — not just a quick win.
• They’ve already built something that works incredibly well, but they’re not done yet.

And when we say they’re not done yet, we mean their vision goes far beyond today.

👉 Their goal is to become a true financial super-app.

But they’re not the only ones chasing this ambitious goal, so let’s take a closer look at what’s really happening here.

RACE TO BECOME A SUPER-APP

We’ve already described a super-app as a smooth, all-in-one platform that covers every financial need in one place.

That’s a powerful value proposition, and there’s no doubt that whoever manages to build it will find major success.

Today, many people still depend on banks, but their apps are clunky, slow to add new features, and limited to selling only their own products.

That’s not what people are looking for in 2025.

The rise of fintechs like Robinhood, Revolut, and Nubank proves how much a clean design and smooth user experience can shift the whole game.

These apps now have tens of millions of monthly active users — with Nubank already closing in on 100 million — and the threat to traditional banks is very real.

Now, we’re seeing a new wave of challengers rising from the crypto world like Jupiter.

These aren’t just traditional bank services dressed up in a nicer app — they’re something entirely different and disruptive.

They’re built on permissionless technology that runs 24/7, works globally, and is open for anyone to build on. And that unlocks a whole new world of possibilities:

• Invest in Miami’s booming real estate market
• Tap into high-yield, delta-neutral strategies you’d never see in TradFi
• Speculate on the latest memecoin from your favorite influencer
• Bet on how many rate cuts will happen this year
• Stake your digital assets to work and earn extra yield
• Automate moving your money into the best yield opportunities

All that, and hundreds of other opportunities that don’t exist in traditional finance, are suddenly on the table.

Crypto still hasn’t caught up to fintech when it comes to adoption. Right now, there are only about 15–20 million active monthly users.

Part of the reason is clear — for years, crypto has been under pressure, facing pushback from regulators and politicians.

But things started shifting this year. Adoption is spreading, the momentum is building, and it’s becoming harder to ignore. That growth also poses a real threat to fintech’s momentum.

And the response? Fintechs are moving into crypto faster than ever.

To really drive this home, let’s look at a simple two-dimensional matrix that shows exactly what’s going on.

Source: Milk Road Crypto PRO

On the x-axis, we map the system these platforms run on and the source of their products:

• Left: Traditional / legacy system (regulated banks, insured deposits, mortgages, savings)
• Right: Crypto-native / open system (DEXs, tokens, DeFi yield, 24/7 permissionless access)

On the y-axis, we look at the breadth of financial services, which reflects how relevant they are to users:

• Bottom: Narrow offering (a few products, limited coverage)
• Top: Full-stack offering (savings, loans, stocks, crypto, payments, and more)

We placed Wells Fargo on the matrix as a reference point for a traditional US bank, and we added MetaMask to represent a crypto-native wallet.

But the real focus here is on Robinhood and Jupiter — that’s where the comparison gets interesting.

Robinhood

Robinhood already covers the must-have traditional banking products, though it still runs fully on the old financial system.

What makes things interesting is that they’re now building their own blockchain. This won’t just make their operations more efficient — it will also unlock a whole new wave of products and services.

That’s why we believe, based on everything they’re doing today, Robinhood is steadily moving into the winning zone we highlighted on the matrix.

The winning zone is where the winning super-apps will live — offering the best products from both worlds. Having access to just one side won't be enough anymore!

And that brings us to Jupiter.

Jupiter

It is a pure crypto-native super-app. We’ll dive into everything you can already do on Jupiter in just a moment, but here we want to call out what’s still missing.

Yes, Jupiter has started to bring in a few traditional touches, like funding your account with a credit card or Apple Pay, and even offering access to selected stocks. But that’s not enough.

They’re definitely on the right track, but to really compete they’ll need to push harder and move more to the left on the matrix.

In practice, that means adding access to core traditional products people use every day — things like traditional banking accounts, undercollateralized loans, mortgages, forex, and more.

Some crypto natives might strongly disagree with this view, but if these crypto-native apps want to succeed, ideology has to take a back seat to what users actually want.

Without offering the basic financial products that are worth trillions today, it’s going to be extremely difficult to compete with the players who already do.

And yes, it might require KYC for certain services, but that shouldn’t be seen as a drawback. It’s simply a necessary step toward offering a complete suite of products.

Okay, let’s see what Jupiter’s bringing to the table today.

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WHAT’S LEFT INSIDE? 👀

• The hurdles Jupiter needs to overcome to turn into a true super-app
• Is $JUP worth considering as an investment right now?
• How big could Jupiter grow in the coming years?

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