Monad Acquires Portal Labs to Expand Stablecoin Payments on High-Speed Blockchain
Main Idea
Monad acquires Portal Labs to expand stablecoin payments on its high-speed blockchain, with Raj Parekh leading the stablecoin strategy.
Key Points
1. Monad Foundation, behind the high-speed layer-1 blockchain Monad, has acquired Portal Labs to enhance stablecoin payment capabilities.
2. Raj Parekh, Portal co-founder and former Visa crypto director, will lead Monad’s stablecoin strategy post-acquisition.
3. Stablecoins are increasingly popular for payments, with Citi projecting they could become a $3.7 trillion asset class by 2030 with regulatory support.
4. Payments firm Stripe has also recently acquired stablecoin infrastructure firm Bridge and wallet platform Privy to boost blockchain-powered payments.
5. Monad co-founder Keone Hon stated that payments are a key use case for blockchains and could drive widespread crypto adoption.
Description
Monad Foundation, the organization behind high-speed layer-1 blockchain Monad, is acquiring stablecoin infrastructure platform Portal Labs in an effort to scale up blockchain-based payments. Monad said the acquisition will accelerate its push into the stablecoin space and improve tools available for developers and fintechs building with digital dollars. Monad is a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM) and capable of over 10,000 transactions per second. Portal, whi...
Latest News
- Crypto Hackers Capitalize on ETH Surge, Offloading $72M This Week2025-08-15 14:28:24
- Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital2025-08-15 13:40:10
- BONK Holds Key Support After Heavy Selling Hits Solana Meme Token2025-08-15 13:35:33
- CoinDesk 20 Performance Update: Avalanche (AVAX) Gains 3.4% as Index Trades Higher2025-08-15 13:32:14
- Circle to Offer 10 Million Class A Shares at $130 Each2025-08-15 10:00:47