Project Pangea is a new initiative uniting over 47 European and Korean banks to achieve atomic T+0 foreign exchange settlement using regulated stablecoins. Leveraging Chainlink's blockchain technology and existing banking messaging standards, the project aims to eliminate delays and inefficiencies in cross-border FX transactions, which currently rely on intermediary currencies. The network uses a three-layer architecture combining traditional Swift messaging, Chainlink's cross-chain protocols, and a dedicated blockchain for settlement, enabling real-time, secure, and capital-efficient currency swaps. This marks a significant structural shift in global finance, promoting onchain settlement and potentially expanding to multiple currencies and corridors in the future.
Project Pangea, a collaboration involving Chainlink, over 10 Korean banks, and 37 European banks, seeks to replace the traditional two-day FX settlement cycle with real-time, stablecoin-based settlement. This initiative targets the $9.6 trillion dail...
Project Pangea, involving 47 banks from Europe and South Korea managing over $10 trillion in assets, seeks to reduce EUR-KRW foreign exchange settlement times from two days to near real-time using regulated stablecoins and atomic payment-versus-payme...
A consortium of European and South Korean banks, led by Chainlink and partners like FairSquareLab, has launched Project Pangea to pilot a stablecoin-based foreign exchange settlement system. The platform enables direct, simultaneous exchange of regul...
Project Pangea, a consortium led by Chainlink and partners, has introduced a new system for cross-border foreign exchange settlement using regulated stablecoins for euros and Korean won. This initiative aims to eliminate reliance on intermediary curr...
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 ex...
