Putting electricity in every house brought society into the modern era. Putting stablecoins into every company will have a similarly massive impact. Today, I am excited to announce that the Monad Foundation has acquired @portal_hq, a leading stablecoin infrastructure provider. Portal powers millions of dollars of daily stablecoin settlement through its powerful SDKs that make it super easy for web2 companies to add stablecoins to any app. Portal's tools are an incredible accelerant for crypto adoption. We’re excited that they will be doubling down on their mission to put stablecoin capabilities into every company and every app. I am also pleased to welcome @rparekh, cofounder/CEO of Portal, to the Foundation as Head of Payments and Stablecoins. Prior to founding Portal, Raj was a founding member of Visa’s global crypto product. He’s been working to grow the adoption of crypto for payments since 2017, and brings exceptional expertise and pragmatism to our team. The combination of Monad and Portal will have a huge impact on accelerating stablecoin adoption. Just as the electric dynamo put electricity in every house, we’ll look to put stablecoins in every business. Here is why Monad and Portal are an awesome match: Stablecoins are poised to transform the global economy: - They make money borderless, breaking down barriers and creating opportunities for workers in developing economies. - They allow businesses to tap into global lending markets and talent pools. - In developing nations, they give the underbanked access to better tools and more stable currencies. - Even for big companies, they offer an array of benefits, including rapid settlement and powerful treasury management tools. Stablecoins will be so transformative in the next few years, but they need technology to fuel their growth. Specifically, they need: - super high processing power and super low fees - the network effects of full EVM compatibility - powerful SDKs that make it easy for non-crypto-native businesses to onboard - and most of all, they need true decentralization – because a borderless economy and a borderless asset ledger won’t run on a centralized server. The combination of Monad and Portal offers a solution to this exact set of needs. Portal represents the missing piece for Monad. Technology; decentralization; community; killer builders; now payments and stablecoins. All in one.