Monad Foundation Acquires Stablecoin Infrastructure Developer Portal Labs
Powered by ChatGPTOn July 10, The Block reported that the Monad Foundation will acquire stablecoin infrastructure developer Portal Labs. This acquisition will bring a full-stack payment solution to Monad, while integrating Monad's blockchain technology into Portal's multi-chain strategy. It is reported that after the acquisition, Portal co-founder and CEO Raj Parekh will join the Monad Foundation as the head of payments and stablecoins. Portal Labs will operate as a subsidiary under the Monad Foundation. Portal Labs has developed infrastructure such as software development kits and application programming interfaces, enabling developers to more easily implement stablecoin payment functions in their products. Portal supports more than 100 blockchains, including Solana, Bitcoin, Ethereum, and Ethereum Virtual Machine-compatible networks. [Deep Tide TechFlow]