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Chainlink joins 47 banks to enable near-instant stablecoin cross-border payments between Europe and South Korea.

Market News
23 Jun 2026, 18:40 WIB
Coindesk
View Source
Bullish
Chainlink joins 47 banks to enable near-instant stablecoin cross-border payments between Europe and South Korea.

Chainlink has partnered with 47 European and South Korean banks in Project Pangea to enable near-instant cross-border payments using stablecoins pegged to the euro and South Korean won. The initiative aims to reduce the traditional 48-hour foreign exchange settlement time to almost real-time by using atomic payment-versus-payment mechanisms, cutting counterparty and settlement risks. Project Pangea acts as middleware, allowing banks to use existing Swift and ISO 20022 systems while settling transactions on the Pangea L1 blockchain network. This $150 billion trade corridor project targets live transactions within a legal and regulatory framework within the next 12 months, aiming to modernize international trade and improve liquidity for businesses.

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