On The Brink with Castle Island
Raj Parekh (Monad Foundation) on Stablecoins and The Next Era of Fintech (EP.702)
On The Brink with Castle Island
•February 18, 2026•38 min
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On The Brink with Castle Island•Feb 18, 2026
Why It Matters
Understanding stablecoin integration is crucial for businesses aiming to modernize payments, reduce friction, and stay competitive in the evolving fintech landscape. The episode sheds light on regulatory dynamics and technological innovations that will shape the next era of digital finance, making it timely for anyone navigating the shift toward blockchain‑based payments.
Key Takeaways
- •Portal enables companies to move money via stablecoins quickly
- •Monad acquisition expands stablecoin infrastructure and ecosystem development
- •Large fintechs may adopt stablecoins, but startups fill niche verticals
- •Governance models mirror traditional consortia like Visa and SWIFT
- •Regulators' stance influences stablecoin adoption across emerging markets
Pulse Analysis
Raj Parekh, former Visa product leader, founded Portal in 2022 to give fintechs a ready‑made stablecoin payment layer. Portal now powers companies such as World Remit, Bitso and PayPal, allowing payroll, freelance and neobanking payouts to move instantly on blockchain‑backed tokens. In July 2025 the Monad Foundation acquired Portal, merging its developer platform with Monad’s broader stablecoin ecosystem. This combination gives enterprises a single point of access to open‑source payment infrastructure, reducing legacy friction and delivering faster, cheaper cross‑border settlements.
While giants like Stripe and Shopify are extending their own rails, Raj argues that large incumbents will always leave blind spots in specialized verticals. Start‑ups can capture B2B supply‑chain finance, global payroll and niche remittance flows where existing platforms lack bespoke workflows. The total addressable market for stablecoin‑enabled payments remains largely untapped—still under 1 % of global transaction volume—so both early‑stage innovators and established firms have room to grow. Stablecoins also eliminate much of the regulatory and technical debt that traditionally slows a company’s global rollout.
Raj sees the governance of stablecoin networks echoing the consortium model of Visa and SWIFT, where neutral validators act as trusted intermediaries. He believes regulators will gradually move from passive observation to active partnership, especially in regions eager to avoid dollarisation through local digital currencies. Monad’s strategy includes dialogue with policymakers willing to craft win‑win frameworks, positioning the firm as a bridge between private‑sector innovators and central banks. As multi‑rail blockchain solutions mature, they will coexist with legacy rails, offering firms the flexibility to route payments by cost, speed or jurisdiction.
Episode Description
Wyatt sits down with Raj Parekh, Head of Stablecoins and Payments at Monad. In this episode:
Will enterprises build out their own stablecoin solutions?
Will card payments continue to grow, or be challenged by other forms of payments?
What is the role of governments in driving whether stablecoin adoption will continue, accelerate, or decelerate?
How does Monad work with leading financial organizations?
Where do you see opportunity for novel tech solutions around stablecoins?
Will there be many stablecoins or a smaller number of stablecoins at scale?
Will companies run their own corporate chains?
How should companies look at embedding stablecoins in their workflows from scratch?
Show Notes
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