Fomo buys Mobula software to bring on-chain data infrastructure in-house

Crypto trading platform Fomo has acquired proprietary software and intellectual property developed by on-chain data infrastructure company Mobula as it looks to bring more of its underlying data capabilities in-house.

Several members of Mobula will also join Fomo, including founder Sacha Marcus, CTO Sacha Delhoux and Head of Infrastructure Cyril Conan.

The acquisition comes as Fomo reports rapid growth across its trading platform. Its user base has more than doubled since the beginning of July to more than 1.9 million, with over 30,000 new users joining each day.

More than 1.2 million users were active during August, while Fomo said it reached as high as No. 3 in the Finance category on the iOS App Store.

Trading volume increased from $500 million in June to $1.5 billion in July. Fomo said August volume is on pace to exceed $2.8 billion, alongside roughly $17 million in monthly revenue.

That revenue level would represent an annualized run rate of more than $200 million, according to the company.

Fomo said the Mobula assets will give it greater control over systems responsible for on-chain data and global infrastructure as the platform expands, reducing its reliance on external infrastructure providers.

The company plans to further develop the acquired technology with a focus on data reliability and platform performance.

Fomo is also expanding beyond its core mobile trading product. Its web platform now represents approximately 25% of total trading volume, while its perpetuals product continues to grow.

The company has also introduced Clans, which allows groups of traders to organize and compete together, as Fomo builds out a broader social layer combining trading, asset discovery, and creator activity.