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.
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 pro...
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...
