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06/24 05:50

Chainlink Partners with Multi-Country Banking Alliance to Launch Pangea Project, Exploring Stable...

BlockBeats News, June 24th, Chainlink announced the launch of the Pangea project in collaboration with FairSquareLab, UniKA, and the Euro Stablecoin Alliance Qivalis. The project aims to explore a real-time cross-border forex settlement model based on stablecoins. The Pangea project will leverage Chainlink data, interoperability and composability standards, as well as FairSquareLab's on-chain forex settlement technology, to achieve direct atomic transactions between compliant fiat-pegged digital assets such as the Euro and the Korean Won. This initiative will drive the forex market from the traditional T+2 settlement to a T+0 real-time settlement model.UniKA is guided by a steering committee composed of Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with participation from over a dozen South Korean commercial banks; Qivalis is supported by 37 leading European banks. Together, these entities represent a combined total of over $10 trillion in assets under management.
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