HTX News
06/24 03:00
On June 24, Chainlink announced the launch of the Pangea project in collaboration with FairSquareLab, UniKA, and the Euro stablecoin alliance Qivalis, aimed at exploring real-time cross-border forex settlement models based on stablecoins. The Pangea project will utilize Chainlink's data, interoperability, and orchestration standards, along with FairSquareLab's on-chain forex settlement technology, to enable direct atomic transactions between compliant fiat-backed digital assets such as the Euro and Korean Won. This initiative seeks to transition the forex market from the traditional T+2 settlement to a T+0 real-time settlement model. UniKA's steering committee includes Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with participation from over ten South Korean commercial banks; Qivalis is supported by 37 leading European banks. The involved institutions collectively represent an asset management scale of over $10 trillion.
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