Chainlink partners with multinational banking consortium to launch Project Pangea, exploring stablecoin-based FX T+0 settlement

Odaily reports that Chainlink has announced the launch of Project Pangea in partnership with FairSquareLab, UniKA, and the euro stablecoin consortium Qivalis, aiming to explore real-time cross-border foreign exchange settlement models based on stablecoins.

According to the introduction, UniKA's steering committee includes Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with participation from over ten Korean commercial banks. Qivalis is supported by 37 leading European banks. Together, these institutions represent over $10 trillion in assets under management.

Project Pangea will leverage Chainlink's data, interoperability, and orchestration standards, along with FairSquareLab's on-chain FX settlement technology, to enable direct atomic transactions between compliant, fiat-pegged digital assets such as the euro and the Korean won. The project aims to drive the FX market's transition from traditional T+2 settlement to a T+0 real-time settlement model.