Monad Acquires Portal Labs for Enhanced Stablecoin Payments

Monad Foundation has acquired Portal Labs, a stablecoin wallet infrastructure startup, to enhance its payments capabilities ahead of its upcoming mainnet launch. The acquisition was announced in a press release, revealing that Portal Labs will become a wholly owned subsidiary of the Monad Foundation. This deal grants Monad access to Portal’s payment rails and stablecoin settlement infrastructure, which supports millions of dollars in daily onchain volume.

Raj Parekh, the CEO and co-founder of Portal, will join the Monad Foundation as the head of payments and stablecoins. Parekh's extensive experience, including his role in leading Visa’s global crypto product strategy, will be instrumental in driving Monad’s stablecoin initiatives. The remaining co-founders of Portal—Parsa Attari, David Scrobonia, and Rami Shahatit—will continue to lead the company independently while contributing to Monad’s efforts to build a high-speed, enterprise-grade blockchain for stablecoin payments.

Monad is currently operating in testnet and has processed over 2 billion transactions to date, with a throughput of 10,000 transactions per second and block finality in under one second. The blockchain is designed to be Ethereum-compatible and uses a combination of parallel execution and custom infrastructure to support large-scale applications. A mainnet launch is anticipated later this quarter.

This acquisition aligns with Monad’s strategy to position payments as a core use case. According to Monad co-founder Keone Hon, “Payments are a killer use case for blockchains.” 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. This move builds on Monad’s earlier partnerships, such as 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 aims to compete directly in the fast-evolving stablecoin infrastructure space, targeting both Web2 fintechs and Web3-native platforms. The acquisition is expected to enhance Monad’s capabilities in the digital payments sector, providing a comprehensive ecosystem for enterprise-grade stablecoin payments. This move is part of Monad’s broader strategy to provide enterprise-ready infrastructure for stablecoin adoption, driving blockchain adoption and representing a transformative opportunity for the crypto industry.