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.…
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