The Monad Foundation has announced the acquisition of Portal, a stablecoin infrastructure provider. Portal will operate independently but will benefit from Monad's technology to enhance its services. Raj Parekh, Portal's founder, is set to become the Head of Payments and Stablecoins at Monad. Keone Hon, co-founder of Monad, expressed that the foundation has been exploring ways to grow the on-chain economy, highlighting the natural synergies between the two organizations. This acquisition reflects a broader trend of consolidation in the blockchain space, particularly concerning financial projects, as noted in recent acquisitions by companies like OpenSea and Coinbase. The growing activity in consumer-focused ventures further signals a robust engagement in the crypto and financial sectors.

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