The Monad Foundation has acquired Portal Labs, a startup specializing in stablecoin wallet infrastructure, to bolster its payment capabilities ahead of the upcoming launch of Monad’s mainnet. The acquisition was announced on July 9 via a press release on Business Wire.
Portal, known for its embedded stablecoin payment tools for developers and businesses, will operate as a wholly owned subsidiary of the Monad Foundation. Through the acquisition, Monad gains access to Portal’s robust payment rails and stablecoin settlement infrastructure, which currently processes millions of dollars in daily onchain volume.
As part of the deal, Portal CEO and co-founder Raj Parekh will join the Monad Foundation as Head of Payments and Stablecoins. Parekh, who previously led global crypto product strategy at Visa, brings extensive experience from both traditional finance and the decentralized ecosystem.
“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.”
Portal’s remaining co-founders—Parsa Attari, David Scrobonia, and Rami Shahatit—will continue to operate the company independently while collaborating with the Monad Foundation to advance its mission of building a high-speed, enterprise-grade blockchain optimized for stablecoin payments.
Monad, currently in its testnet phase, has already processed over 2 billion transactions, achieving throughput of 10,000 transactions per second and block finality in under one second. Designed to be Ethereum-compatible, Monad leverages parallel execution and custom-built infrastructure to support scalable, high-performance applications. Its mainnet launch is scheduled for later this quarter.
The acquisition aligns with Monad’s strategic focus on making payments a core blockchain use case. “Payments are a killer use case for blockchains,” said Keone Hon, co-founder of Monad. “Portal’s production-grade stablecoin rails will offer developers and enterprises plug-and-play solutions to seamlessly integrate stablecoin payments into their platforms and applications.”
This move follows Monad’s integration with Chainlink Scale in April 2025, which enhanced access to low-latency data feeds for DeFi developers. With Portal now part of the ecosystem, Monad is positioning itself to compete in the rapidly evolving stablecoin infrastructure space, targeting both traditional fintech firms and Web3-native platforms.
