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-payment on a dedicated blockchain. This initiative targets a $150 billion trade corridor and integrates with existing banking standards like Swift and ISO 20022 for smooth adoption. The project aims for live compliant transactions within 12 months, potentially freeing up capital and reducing counterparty risk in cross-border trades. Investors should watch for bank commitments and regulatory clarity in both regions to assess progress.
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 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...
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...
