Monad Foundation Acquires Portal Labs to Expand Stablecoin

July 9, 2025 – Monad Foundation announced its acquisition of Portal Labs, the team behind Portal's embedded stablecoin wallet infrastructure platform, in a strategic move to accelerate stablecoin adoption and expand payment capabilities on its high-throughput Layer-1 blockchain.

1. Portal Labs Acquisition Strategy

Monad Foundation has completed the acquisition of Portal Labs, the team behind Portal’s embedded stablecoin wallet platform. Raj Parekh, CEO and co-founder of Portal, will transition to head of payments and stablecoins at Monad Foundation, bringing extensive expertise from his previous role as Visa's global crypto product director.

2. Stablecoin Payment Ecosystem Integration Goals

The integration aims to create a comprehensive ecosystem for enterprise-grade stablecoin payments, while maintaining Portal's existing customer relationships and continuing to build on a multi-chain approach. This collaboration will expand stablecoin payment solutions for both web2 and web3 businesses.

3. Expansion Plans and Operational Structure

Portal will continue to operate independently as a wholly-owned subsidiary of Monad Foundation, with co-founders Parsa Attari as CEO, David Scrobonia as CTO, and Rami Shahatit as COO maintaining leadership positions. This acquisition allows Portal to accelerate development of new modules and developer tooling across multiple blockchain networks.

4. Technology Capabilities and Transaction Speed

According to Monad, their blockchain infrastructure has demonstrated significant scale, processing 2 billion transactions from over 300 million on-chain addresses with peak throughput exceeding 10,000 transactions per second. This complements Portal’s existing payment rails, helping it facilitate millions of dollars in daily stablecoin settlements.

5. The Importance of Payments in Driving Crypto Adoption

Keone Hon, co-founder and GM of Monad Foundation, emphasized the strategic importance of payments in driving broader crypto adoption: "Payments are a killer use case for blockchains and present an exciting unlock for widespread crypto adoption."