Monad Foundation has just acquired Portal, a stablecoin infrastructure provider, to promote the development of the On-chain economy from the blockchain technology foundation.
Portal will maintain an independent operational role, using Monad technology to enhance stablecoin services and develop solutions like cross-chain bridges and stablecoin wallets.
MAIN CONTENT
Monad Foundation completes the acquisition of Portal – a stablecoin infrastructure provider.
Portal will continue to operate independently, collaborating with Monad to develop blockchain solutions.
Monad aims to become the leading blockchain supporting stablecoin transactions with the upcoming mainnet launch.
What is the goal of Monad Foundation's acquisition of Portal?
Monad Foundation aims to develop a sustainable On-chain economy through the integration of advanced technology in the stablecoin and cross-chain bridge sectors.
According to information from Blockworks, the acquisition of Portal aims to expand the stablecoin ecosystem and increase multi-chain connectivity, contributing to improved transaction efficiency and asset security. The upcoming Monad mainnet will be an important step to complete this strategy.
The collaboration between Portal and Monad will significantly boost the development of stablecoins and wallet solutions, creating a solid foundation for the blockchain economy in the future.
Raj Parekh, Founder of Portal, July 2024
How will Portal operate after being acquired?
Portal will continue to operate independently while leveraging Monad's technological strength to expand services and improve stablecoin solutions.
Raj Parekh – founder of Portal, will lead the payments and stablecoin department at Monad Foundation, ensuring close coordination between the two sides to optimally harness blockchain potentials with a synchronized development strategy.
What role does the Monad mainnet play in the development plan?
The Monad mainnet is expected to become the preferred blockchain for stablecoin transactions, with high scalability and security features.
The launch of the mainnet will help Monad Foundation lead in the field of cryptocurrency payments, especially in cross-chain connectivity and stablecoin wallet provision. This vision aligns with the trend of applying blockchain in the global digital economy.
Criteria Portal (Before acquisition) Monad Foundation (After acquisition) Operation Independent, providing stablecoin infrastructure Operates independently, integrating Monad technology platform Leadership Raj Parekh – Founder Raj Parekh – Head of Payments and Stablecoin at Monad Featured technology Stablecoin infrastructure Development of stablecoin wallets, cross-chain bridges, mainnet blockchain platform Future strategy Focus on developing stablecoins Expanding the On-chain economy, developing a multi-chain ecosystem
Frequently Asked Questions
What is the purpose of Monad Foundation's acquisition of Portal? To develop the On-chain economy using stablecoin technology and cross-chain bridges, enhancing user experience. Will Portal change its operations after joining Monad? It will still operate independently while closely collaborating to develop new stablecoin technology and services. What is Raj Parekh's role in Monad? He serves as the head of payments and stablecoins, leading product and technology development. What achievements are expected from the Monad mainnet? To become the preferred blockchain for stablecoin transactions and efficient, secure multi-chain solutions. How will the collaboration impact the cryptocurrency market? It will enhance connectivity, expand stablecoin applications in payments, and diversify blockchain services.
Source: https://tintucbitcoin.com/monad-foundation-thau-tom-du-an-stablecoin-portal/
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