Deep Tide TechFlow News, on July 9, according to BlockWorks, the Monad Foundation announced the acquisition of stablecoin infrastructure provider Portal, with the transaction amount undisclosed. Portal will continue to operate as an independent entity but will be able to utilize Monad's technology to serve clients. Portal's founder Raj Parekh will assume the role of head of payments and stablecoin business at the Monad Foundation. Monad Foundation co-founder Keone Hon stated that the company has been "thinking long-term about how to develop the on-chain economy," with the goal of becoming the "preferred blockchain for stablecoin transactions." Currently, Monad is still in the testnet phase, but Hon revealed that the mainnet will be launched "soon."