On July 9, 2025, the Monad Foundation announced the acquisition of Portal Labs, a leading provider of infrastructure for stablecoin wallets, to enhance its payment capabilities ahead of the mainnet launch. This strategic move integrates Portal's reliable tools for stablecoin payments, allowing developers and businesses to easily implement stablecoin transactions. Portal will become a subsidiary of Monad, and its CEO, Raj Parekh, will join the team as the head of payments and stablecoins.
Monad, a first-level blockchain compatible with Ethereum, aims to utilize the Portal infrastructure to process millions of daily transactions on the network, positioning itself as a hub for stablecoin operations. The acquisition supports Monad's goal of mass adoption of on-chain payments, offering fast, economical, and borderless solutions. As stablecoins gain popularity, this partnership strengthens the Monad ecosystem, providing developers with tools to create high-performance decentralized applications (dApps).
With the mainnet launch approaching, Monad focuses on the scalability and security of payment solutions that could transform on-chain finance. Stay tuned for news on blockchain innovations! Subscribe to #MiningUpdates for the latest updates in the cryptocurrency and blockchain space.