On July 10, according to The Block, Monad Foundation will acquire stablecoin infrastructure developer Portal Labs. The acquisition will bring Monad a full-stack payment solution while integrating Monad's blockchain technology into Portal's multi-chain strategy. According to reports, Portal co-founder and CEO Raj Parekh will join Monad Foundation as head of payments and stablecoins after the acquisition is completed. Portal Labs will operate as a subsidiary under the Monad Foundation. Portal Labs has developed infrastructure such as a software development kit and application interface to make it easier for developers to implement stablecoin payment functions in products. The Portal supports over 100 blockchains, including Solana, Bitcoin, Ethereum, and a network compatible with the Ethereum virtual machine.