PANews July 10 news, according to The Block, the development organization of Layer1 blockchain Monad, the Monad Foundation, announced the acquisition of stablecoin infrastructure developer Portal Labs. After the transaction is completed, Portal will operate as a subsidiary, and its co-founder and CEO Raj Parekh will join the Monad Foundation as the head of payment and stablecoin business.
Portal Labs provides SDK and API tools that support over 100 blockchains, helping developers quickly integrate stablecoin payment functionality. This acquisition will combine Portal's multi-chain payment solutions with Monad's high-performance blockchain, with the Monad mainnet expected to launch in the second half of 2025.