Monad Foundation has completed the acquisition of Portal Labs, expanding the stablecoin ecosystem and multi-chain payments.
Through the merger with Portal Labs, Monad will integrate Portal's multi-chain payment solutions with its high-performance Layer 1 blockchain, expected to launch its mainnet in the second half of 2025.
MAIN CONTENT
Monad Foundation acquires Portal Labs, a unit developing multi-chain stablecoin infrastructure.
Portal Labs provides SDK and API supporting over 100 blockchains, enabling quick integration of stablecoin payments.
Monad is expected to launch its Layer 1 mainnet in the second half of 2025, combining Portal's solution to enhance payment capabilities.
What is Monad Foundation and the significance of the acquisition of Portal Labs?
Monad Foundation is a professional Layer 1 blockchain development organization, committed to enhancing network performance. The acquisition of Portal Labs helps Monad strongly expand the multi-chain stablecoin and payment ecosystem.
This merger is not only a strategic move but also affirms Monad's expertise in the high-performance blockchain and decentralized payment field. According to The Block, this is one of the noteworthy transactions of 2024 in the cryptocurrency industry.
What is Portal Labs and what are their services?
Portal Labs develops infrastructure with multi-chain SDK and API, supporting over 100 blockchains, enabling developers to quickly integrate stablecoin payment functionality.
Portal's solution is optimally designed for cross-chain scaling, reducing latency and enhancing user experience in payments, which is essential for modern multi-chain DeFi services.
Portal Labs uses standard technology to provide smooth connectivity between blockchains, enhancing stablecoin payment capabilities across various platforms.
Raj Parekh, CEO of Portal Labs, 2024
How does this acquisition affect Monad Foundation's roadmap?
Monad Foundation is expected to launch its Layer 1 blockchain mainnet in the last quarter of 2025, with significant support from Portal Labs' multi-chain technology.
Combining multi-chain payment infrastructure with high-performance blockchain helps Monad enhance practical applications in the DeFi and CeFi fields, improving scalability and network security.
The integration of Portal Labs' technology is a significant step for Monad to realize its goal of becoming a leading blockchain platform supporting stable and fast payments.
Changsu Lee, CEO of Monad Foundation, 2024
What are the highlights of Portal Labs and Monad Foundation in the cryptocurrency ecosystem?
Portal Labs stands out with its powerful SDK and API solutions, supporting over 100 blockchains, while Monad Foundation focuses on developing high-performance Layer 1 blockchain, excelling in speed and security.
Criteria Portal Labs Monad Foundation Main Function Multi-chain stablecoin payment SDK, API High-performance Layer 1 Blockchain Number of supported blockchains Over 100 blockchains Developing mainnet, supporting multi-chain through integration Development roadmap Continuously developing multi-chain payment infrastructure Expected mainnet launch in the second half of 2025 Role in the cryptocurrency ecosystem Multi-chain payment infrastructure supporting DeFi and stablecoin Core blockchain platform supporting DeFi applications
Frequently Asked Questions
What is Monad Foundation? Monad is an organization developing high-performance Layer 1 blockchain with a focus on network performance and security.
What does the acquisition of Portal Labs mean? It helps Monad integrate multi-chain stablecoin payment technology, expanding the ecosystem and application capabilities.
What solutions does Portal Labs provide? SDK and API infrastructure supporting stablecoin payment integration on over 100 blockchains.
When is Monad's mainnet expected to launch? Expected in the second half of 2025 with many improvements in multi-chain payment support.
What are the benefits of the collaboration between Monad and Portal? Increased connectivity, fast and secure payments across various blockchain networks.
Source: https://tintucbitcoin.com/monad-mua-lai-portal-labs-stablecoin/
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