On July 10th, according to The Block, the Monad Foundation will acquire stablecoin infrastructure developer Portal Labs. The acquisition will bring a full-stack payment solution to Monad, while integrating Monad's blockchain technology into Portal's multi-chain strategy.
According to reports, following the acquisition, Portal co-founder and CEO Raj Parekh will join the Monad Foundation as Head of Payments and Stablecoins. Portal Labs will operate as a subsidiary under the Monad Foundation. Portal Labs has developed infrastructure such as the Software Development Kit and Application Programming Interface to make it easier for developers to implement stablecoin payment capabilities in their products. Portal supports over 100 blockchains including Solana, Bitcoin, Ethereum, and networks compatible with the Ethereum Virtual Machine.
Monad Foundation Acquires Stablecoin Infrastructure Developer Portal Labs
2025-07-10 01:01:46
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