Crypto Trading Platform Fomo Acquires Mobula as Daily Volume Nears $250M

Key Highlights

• Fomo has acquired Mobula’s technology and intellectual property in a reported $17M deal.
• The acquisition comes just over two months after Fomo raised $75M in Series B funding.
• Fomo has expanded beyond its mobile app with a Web platform and perpetual futures trading.

dydx executives founded Crypto trading platform Fomo has announced a major acquisition. It has acquired Mobula’s technology and team as it scales its spot trading business.

Fomo announced the acquisition in a LinkedIn post, saying the deal will allow it to own and improve “critical infrastructure” as the platform continues to grow.

“We are excited to announce our acquisition of Mobula technology and team,” Fomo said.

The company also welcomed Mobula founder Sacha Marcus and Sacha Delhoux to the Fomo team following the acquisition.

The deal gives Fomo direct access to Mobula’s technology and engineering expertise at a time when the trading platform is seeing rapid growth. Rather than relying entirely on external infrastructure, Fomo is bringing critical parts of its technology stack in-house Here’s how:

Why Fomo has Acquired Mobula

The acquisition comes as Fomo’s user base moves closer to the 2 million mark.

Fomo said it is now approaching 2 million users, while daily spot trading volume is nearing $250 million. That puts the platform on pace for roughly $7.5 billion in spot volume over a 30-day period if that daily level is maintained.