Monad acquires Portal Labs to expand stablecoin payment capabilities

Monad Foundation has acquired Portal Labs, the stablecoin wallet infrastructure startup, in a move to strengthen its payments offering ahead of Monad’s upcoming mainnet launch. 

The acquisition was announced in a July 9 press release via Business Wire. Portal, which provides embedded stablecoin payment tools for developers and businesses, will become a wholly owned subsidiary of the Monad Foundation. The deal gives Monad access to Portal’s payment rails and stablecoin settlement infrastructure, which powers millions of dollars in daily onchain volume.

Raj Parekh, Portal’s chief executive officer and co-founder, will join the Monad Foundation as head of payments and stablecoins. Parekh previously led Visa’s global crypto product strategy and brings experience in both traditional and decentralized finance.

Portal’s remaining co-founders, 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 more than 2 billion transactions to date, with throughput reaching 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 expected later this quarter.

The acquisition 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. “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.

This move also builds on 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.