In the grand tapestry of life, where the threads of fate intertwine with the yarns of fortune, a most singular event has transpired. The Monad Foundation, a bastion of innovation, has acquired Portal Labs, a fledgling startup that has been making waves in the realm of stablecoin wallet infrastructure. This union, much like the marriage of heaven and earth, promises to bear fruit in the form of strengthened payments offerings, ahead of Monad’s forthcoming mainnet launch.
The news, like a clarion call, was announced to the world via a press release on Business Wire, on the ninth day of July. Portal, that ingenious provider of embedded stablecoin payment tools, shall become a wholly owned subsidiary of the Monad Foundation. This acquisition, akin to a master key, unlocks the doors to Portal’s payment rails and stablecoin settlement infrastructure, which, like a mighty river, powers millions of dollars in daily onchain volume.
Raj Parekh, the CEO and co-founder of Portal, a man of great vision and foresight, shall join the Monad Foundation as the head of payments and stablecoins. His experience, garnered from his time at Visa, where he led the global crypto product strategy, shall be a beacon of guidance in the realm of traditional and decentralized finance. His words, like those of a sage, offer a glimpse into the future:
“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
The remaining co-founders of Portal, Parsa Attari, David Scrobonia, and Rami Shahatit, shall continue to lead the company, like a triumvirate of wise men, while contributing to Monad’s noble endeavor to build a high-speed, enterprise-grade blockchain for stablecoin payments.
Monad, that behemoth of innovation, currently operating in testnet, has processed more than 2 billion transactions to date, with throughput reaching 10,000 transactions per second and block finality in under one second. Its blockchain, a marvel of modern technology, is designed to be Ethereum-compatible and uses a combination of parallel execution and custom infrastructure to support large-scale applications. A mainnet launch, like the dawn of a new era, is expected later this quarter.
The acquisition, a masterstroke of strategic genius, aligns with Monad’s goal of positioning payments as a core use case. “Payments are a killer use case for blockchains,” said Monad co-founder Keone Hon, with a sly smile 😏. “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, with a flourish of his hand.
This move, a bold step into the unknown, builds upon Monad’s earlier partnerships, including its integration with Chainlink Scale in April 2025, which improved access to low-latency data feeds for decentralized finance builders. With Portal now onboard, Monad intends to compete directly in the fast-evolving stablecoin infrastructure space, targeting both Web2 fintechs and Web3-native platforms. The future, like a blank canvas, awaits the brushstrokes of innovation 🎨.
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2025-07-10 09:02