In a strategic move to solidify its payments infrastructure, the Monad Foundation has acquired Portal Labs, a stablecoin wallet infrastructure startup, ahead of its upcoming mainnet debut.
Announced on July 9, the deal will see Portal become a wholly owned subsidiary of Monad. Portal is known for its embedded stablecoin payment solutions, which power millions of daily on-chain transactions for businesses and developers. The acquisition grants Monad direct access to Portal’s payment rails and stablecoin settlement systems, reinforcing its plans to make payments a central use case for blockchain.
Monad Foundation has acquired @portal_hq
Portal’s stablecoin infrastructure platform allows any business, bank, or financial institution to accept stablecoin payments – currently powering millions of dollars in daily settlements.
Read more on the acquisition below ⤵️ pic.twitter.com/9GSK6YsfqK
— Monad ⨀ (@monad_xyz) July 9, 2025
Raj Parekh, Portal’s Chief Executive Officer and co-founder, will join Monad as its head of payments and stablecoins. Parekh previously led Visa’s global crypto product strategy and brings years of expertise bridging traditional finance and DeFi.
“Portal was built to lower the barrier for anyone to move money onchain. The complementary visions of Portal and the Monad Foundation will scale that mission faster.”
stated Raj Parekh, CEO and co-founder of Portal
Portal’s other co-founders – Parsa Attari, David Scrobonia, and Rami Shahatit – will continue leading Portal independently while contributing to Monad’s broader vision of developing a high-speed, enterprise-grade blockchain optimized for stablecoin payments.
Monad’s blockchain, which remains in testnet, has surpassed two billion transactions, achieving throughput of up to 10,000 transactions per second with sub-second finality. Its Ethereum-compatible network uses parallel execution and custom infrastructure to support large-scale decentralized applications. Mainnet launch is expected later this quarter.
Commenting on the acquisition, Monad co-founder Keone Hon said:
“Payments are a killer use case for blockchains. Portal’s production-grade stablecoin rails will give enterprises and developers plug-and-play tools to embed stablecoin payments into their apps and platforms.”
This acquisition builds on Monad’s prior initiatives, such as its April 2025 integration with Chainlink Scale, enhancing low-latency data feed access for DeFi projects. Additionally, Hong Kong-based digital asset solutions provider Hex Trust announced a partnership with Monad Labs to offer custody support for the Monad Blockchain.
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