On July 10, it was announced that Monad Foundation will acquire Portal Labs, a stablecoin infrastructure developer. The acquisition will bring a full-stack payment solution to Monad while integrating Monad's blockchain technology into Portal's multi-chain strategy. According to reports, after the acquisition is completed, Portal co-founder and CEO Raj Parekh will join the Monad Foundation as 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 that make it easier for developers to implement stablecoin payment capabilities in their products. Portal supports more than 100 blockchains, including Solana, Bitcoin, Ethereum and networks compatible with Ethereum-virtual machines.