Monad Foundation acquires Portal Labs to accelerate stablecoin payment infrastructure.
Gate News bot news, the Monad Foundation announced the acquisition of Portal Labs (the team behind the Portal stablecoin wallet platform) to promote the adoption of stablecoins and expand the payment capabilities of Layer-1 blockchain. Portal CEO Raj Parekh will serve as the head of payments and stablecoin business at the Monad Foundation, bringing experience from Visa.