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Project Pangea aims to enable real-time FX settlement, cutting delays with stablecoin swaps between Korean and European banks.

Market News
23 Jun 2026, 23:02 WIB
Bitcoin
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Bullish
Project Pangea aims to enable real-time FX settlement, cutting delays with stablecoin swaps between Korean and European banks.

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 daily FX market by enabling direct atomic swaps of EUR and KRW stablecoins, reducing reliance on intermediary currencies and settlement risk. The technology integrates existing banking messaging standards with blockchain layers to ensure transactions settle at current market prices. The working group will continue developing this multi-currency network, though no full deployment timeline is set yet.

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