TechFlow news, July 9 — According to BlockWorks, the Monad Foundation announced its acquisition of Portal, a stablecoin infrastructure provider, with the transaction amount undisclosed. Portal will continue operating as an independent entity but will be able to leverage Monad's technology to serve its customers. Raj Parekh, founder of Portal, will transition into the role of head of payments and stablecoin operations at the Monad Foundation. Keone Hon, co-founder of the Monad Foundation, said the company is "thinking long-term about how to develop the on-chain economy," aiming to become the "preferred blockchain for stablecoin transactions." Currently, Monad remains in testnet phase, but Hon revealed that the mainnet will launch "very soon."
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