Exclusive: Monad Foundation acquires stablecoin infrastructure project Portal
Main Idea
The Monad Foundation has acquired Portal, a stablecoin infrastructure provider, to leverage Monad’s technology and grow the onchain economy.
Key Points
1. The Monad Foundation acquired Portal, a stablecoin infrastructure provider, though financial terms were not disclosed.
2. Monad Foundation co-founder Keone Hon stated the acquisition aligns with their goal to grow the onchain economy.
3. Portal’s founder, Raj Parekh, highlighted the increasing real-world use cases for stablecoins, such as payments and banking.
4. The acquisition is part of a broader trend of increased M&A activity in the crypto space, including OpenSea’s acquisition of Rally and Stripe’s purchase of LiquiFi.
5. Monad and Portal aim to utilize existing infrastructure to further develop the onchain economy.
Description
Monad Foundation’s Keone Hon said the team’s been “thinking about how to grow the onchain economy for some time”
Latest News
- Jito’s BAM upgrade set to make Solana apps richer2025-08-01 21:13:00
- Friday charts: The observer effect2025-08-01 21:09:21
- Coinbase eyes ‘Everything Exchange’ despite Q2 revenue decline2025-08-01 19:43:57
- Imagine if Figma’s IPO had Hyperliquid’s pre-launch perps2025-08-01 17:05:04
- The exchange that accidentally deleted its 17,000-Bitcoin wallet file2025-08-01 16:23:27