Moonpay Grabs $Sol'S Top Aggregator
MoonPay has acquired DFlow, the Solana ($SOL) DEX aggregator that briefly outpaced Jupiter in daily volume, in a reported $100 million all-stock deal that adds over $50 billion in cumulative trading volume to MoonPay's platform.
@moonpay has acquired @dflow, the $SOL-based trading infrastructure platform that briefly dethroned Jupiter as the network's top aggregator by daily volume. According to Fortune, which cited two sources with direct knowledge, MoonPay paid $100 million in stock for the deal.
A Platform Built on Scale and Speed
Since April 2025, DFlow has processed more than $50 billion in cumulative trading volume, including over $12 billion in Q1 2026 alone, and serves over one million active traders across more than 500 applications. Its clients include Coinbase, Phantom, Solflare, and Kamino. During peak periods, more than 85% of Solana blocks include a DFlow-powered transaction.
DFlow's rise was built on a technical edge. Its rapid adoption was driven by just-in-time routing: while traditional aggregators compute the optimal route before a transaction is submitted, DFlow was the first to re-optimize trades dynamically during onchain execution itself, checking venue prices at the point of settlement and rerouting within the same transaction if conditions had changed.
On November 15, 2025, DFlow flipped Jupiter in daily volume, recording 48.5% of total volume routed through Solana's DEX aggregators and processing $1.21 billion in a single day, the first time in Solana's history that a platform other than Jupiter had topped aggregator market share.
What MoonPay Gets Beyond the Volume
DFlow also built the first and only API that fully tokenizes Kalshi's prediction markets on Solana, giving developers direct access to onchain representations of every market in Kalshi's orderbook. Its Agent CLI lets developers provision trading agents with a Solana wallet and execution capabilities in a single step, while the system integrates with Claude Code through a native MCP server, allowing AI agents to access trading functionality directly within their workflows.
DFlow is the latest in a series of acquisitions MoonPay has made since January 2025, each expanding the platform in a specific direction, from payments and stablecoins to institutional custody and now high-performance onchain execution. In MoonPay's view, DFlow is the missing piece to turn MoonPay into a full-stack crypto platform.
MoonPay CEO Ivan Soto-Wright said the deal adds "one of the most important pieces of trading infrastructure on Solana," bringing the speed, reliability, and scale needed to support high-volume trading and the next generation of agent-driven financial applications. Financial terms beyond the reported stock consideration were not disclosed by either company.
Sources:
Fortune: MoonPay acquires Solana trading infrastructure platform in $100M all-stock deal
PR Newswire: MoonPay Acquires DFlow official press release
The Block: MoonPay acquires Solana execution layer firm DFlow
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Jon WangJon studied Philosophy at the University of Cambridge and has been researching cryptocurrency full-time since 2019. He started his career managing channels and creating content for Coin Bureau, before transitioning to investment research for venture capital funds, specializing in early-stage crypto investments. Jon has served on the committee for the Blockchain Society at the University of Cambridge and has studied nearly all areas of the blockchain industry, from early stage investments and altcoins, through to the macroeconomic factors influencing the sector.
