Monad Acquires Portal Labs to Expand Stablecoin Payment Capabilities

Monad Foundation, the team behind the high-speed Ethereum-compatible layer-1 blockchain Monad, has acquired Portal Labs, a stablecoin infrastructure firm, to accelerate its expansion into blockchain-based payments. The deal strengthens Monad’s position in the digital payments space by enhancing tools available for developers and fintechs leveraging stablecoins.

Portal Labs will continue to operate under its own brand as a wholly-owned subsidiary. Co-founder Raj Parekh, formerly with Visa’s global crypto division, will join Monad as Head of Payments and Stablecoins. Monad, known for its EVM compatibility and throughput exceeding 10,000 transactions per second, aims to provide enterprise-ready infrastructure for stablecoin adoption.

Portal specializes in embedded wallet infrastructure for stablecoin transactions, offering plug-and-play solutions to integrate digital dollar payments into apps and platforms. According to Monad co-founder Keone Hon, stablecoin payments are a key driver for blockchain adoption and represent a transformative opportunity for the crypto industry.

The acquisition comes amid a surge in interest in stablecoins, which are pegged to fiat currencies like the U.S. dollar and promise faster, lower-cost cross-border transactions. Major financial institutions and fintechs are exploring stablecoins for settlement and remittance use cases. Citi projects the stablecoin market could grow into a $3.7 trillion asset class by 2030, provided regulatory clarity.

This move aligns with broader consolidation trends in the sector. Payments firm Stripe recently acquired stablecoin infrastructure providers Bridge and Privy to bolster its blockchain payment services. With Portal now in its ecosystem, Monad is positioning itself as a key player in powering the next wave of stablecoin-based financial infrastructure.