TechFlow news, July 10 — According to The Block, the Monad Foundation will acquire Portal Labs, a stablecoin infrastructure developer. This acquisition will bring a full-stack payment solution to Monad while integrating Monad's blockchain technology into Portal's multi-chain strategy.
Following the acquisition, Raj Parekh, co-founder and CEO of Portal, will join the Monad Foundation as head of payments and stablecoins. Portal Labs will operate as a subsidiary under the Monad Foundation. Portal Labs has developed infrastructure such as software development kits and application programming interfaces that enable developers to easily integrate stablecoin payment functionality into their products. Portal supports over 100 blockchains, including Solana, Bitcoin, Ethereum, and EVM-compatible networks.
