Stablecoin News – Monad Foundation announced its acquisition of Portal Labs, a move aimed at strengthening its stablecoin strategy for blockchain-based payments. Led by former Visa crypto director Raj Parekh, Portal Labs specializes in scalable payment solutions, positioning Monad to enhance stablecoin adoption across its high-performance blockchain. The acquisition aligns with the growing role of stablecoins in facilitating fast, low-cost transactions in DeFi and cross-border payments.
Monad’s blockchain, designed for high throughput and low latency, competes with platforms like Solana and Ethereum, which host significant stablecoin activity.
Stablecoins like USDT and USDC, with a combined $215 billion market cap, are critical for blockchain payments, offering stability for remittances and tokenized asset trading.
Portal Labs’ expertise in wallet infrastructure and payment APIs will enable Monad to integrate stablecoins seamlessly, targeting institutional and retail users.
The acquisition comes amid increasing regulatory clarity, with the U.S. House preparing to vote on the GENIUS Act, which mandates 1:1 reserve backing and audits for stablecoin issuers. This framework supports Monad’s strategy to offer compliant, scalable payment solutions.
Parekh emphasized the potential for stablecoins to revolutionize global payments, citing their ability to settle transactions instantly at a fraction of traditional costs, such as the $9.61 average for a $200 remittance.
The move positions Monad to capture a share of the $2.8 trillion stablecoin market projected by 2028, but challenges remain, including interoperability and regulatory compliance.
By acquiring Portal Labs, Monad strengthens its infrastructure to compete in the evolving digital payments landscape, leveraging stablecoins to bridge traditional and decentralized finance.
