According to Deep Tide TechFlow news on July 10, as reported by The Block, Monad Foundation will acquire stablecoin infrastructure developer Portal Labs. This acquisition will provide Monad with a full-stack payment solution while integrating Monad's blockchain technology into Portal's multi-chain strategy.
According to reports, following the acquisition, Portal co-founder and CEO Raj Parekh will join Monad Foundation as the head of payments and stablecoins. Portal Labs will operate as a subsidiary under Monad Foundation. Portal Labs has developed infrastructure such as software development kits and application programming interfaces that make it easier for developers to implement stablecoin payment features in their products. Portal supports over 100 blockchains, including Solana, Bitcoin, Ethereum, and networks compatible with the Ethereum Virtual Machine.
