Monad acquires Portal Labs to expand stablecoin payment capabilities
2025-07-10 05:55:36
Main Idea
Monad Foundation has acquired Portal Labs, a stablecoin wallet, to enhance its blockchain infrastructure and expand its capabilities in the stablecoin and payments space.
Key Points
1. Monad Foundation announced the acquisition of Portal Labs on July 9, making it a wholly owned subsidiary.
2. Portal's CEO Raj Parekh will join Monad Foundation as head of payments and stablecoins, bringing experience from Visa’s global crypto product strategy.
3. The acquisition aligns with Monad’s goal of building a high-speed, enterprise-grade blockchain and scaling stablecoin infrastructure.
4. Portal’s technology supports millions in daily onchain volume and aims to lower barriers for onchain money movement.
5. Monad plans to compete in the stablecoin infrastructure space, targeting both Web2 fintechs and Web3-native platforms.
Description
Monad Foundation has acquired Portal Labs, the stablecoin wallet infrastructure startup, in a move to strengthen its payments offering ahead of Monad’s upcoming mainnet launch. The acquisition was announced in a July 9 press release via Business Wire. Portal, which provides embedded stablecoin payment tools for developers and businesses, will become a wholly owned subsidiary of the Monad Foundation. The deal gives Monad access to Portal’s payment rails and stablecoin settlement infrastructure, w...
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