Monad Foundation Snaps Up Portal Labs in Game-Changing Acquisition!

Power Move to Boost Payments Ahead of Mainnet Launch

Hang onto your hats, crypto fans! The Monad Foundation just dropped a bombshell by acquiring Portal Labs, the go-to startup for stablecoin wallet infrastructure. This isn't just a merger; it's a full-throttle sprint towards revolutionizing payments just before Monad's mainnet goes live!

The news hit the wires on July 9, and it's all anyone can talk about. Portal, the powerhouse behind cutting-edge embedded stablecoin payment tools, is now a 100% owned subsidiary of the Monad Foundation. With this deal, Monad is plugging into Portal's lightning-fast payment rails and robust stablecoin settlement infrastructure, which handles millions in daily onchain action.

Get ready for some serious star power: Raj Parekh, Portal’s CEO and co-founder, is jumping ship to the Monad Foundation to head up their payments and stablecoins division. This guy isn’t just any exec; he used to steer Visa’s global crypto product strategy. Talk about bringing the big guns to the party!

“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.”

— Raj Parekh, CEO and co-founder of Portal

But wait, there's more! Portal’s other co-founders, Parsa Attari, David Scrobonia, and Rami Shahatit, aren't going anywhere. They'll keep running the show at Portal while also lending their expertise to Monad's mission to create a high-speed, enterprise-grade blockchain tailor-made for stablecoin payments.

Monad isn’t messing around. They're already tearing it up on testnet, clocking over 2 billion transactions, hitting 10,000 transactions per second, and sealing the deal with block finality in under a second. This Ethereum-compatible beast uses parallel execution and custom-built infrastructure to handle massive apps. And guess what? Mainnet's coming this quarter, so buckle up!

This acquisition is all about making payments the superstar of blockchains. “Payments are a killer use case for blockchains,” declared Monad co-founder Keone Hon. “Portal’s production-grade stablecoin rails will provide enterprises and developers with plug-and-play solutions to incorporate stablecoin payments into their platforms and apps,” Hon added, practically bursting with excitement.

And that's not all, folks. Monad's been making moves left and right, from integrating with Chainlink Scale in April 2025 to supercharge low-latency data feeds for DeFi builders. With Portal now in the mix, Monad is ready to take on the fast-paced world of stablecoin infrastructure, challenging both traditional fintechs and the coolest Web3 platforms out there.