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Chainlink collaborates with banking institutions to pilot stablecoin foreign exchange infrastructure.
Project Pangea focuses on direct euro and Korean won stablecoin exchanges.
Financial institutions test immediate T+0 settlement for international currency transfers.
FairSquareLab develops specialized blockchain-based FX settlement technology.
Chainlink bridges traditional Swift infrastructure with distributed ledger settlement networks.
A consortium of leading financial institutions has partnered with Chainlink to introduce Project Pangea, an innovative stablecoin foreign exchange settlement system connecting European and South Korean markets. The experimental platform will facilitate direct transactions between regulated digital versions of the euro and Korean won. This initiative seeks to accelerate international payment processing while reducing reliance on traditional intermediary currency channels.
Banking Consortium Tests Direct EUR-KRW Digital Asset Exchange
Project Pangea unites banking organizations from Europe and South Korea through a cooperative task force framework. The technical and institutional partnership includes FairSquareLab, UniKA, Qivalis, and Chainlink as primary contributors. Qivalis operates a euro stablecoin alliance backed by 37 financial institutions across Europe.
UniKA coordinates South Korean participation and brings together more than ten commercial banking entities. The steering body features representation from Shinhan Bank, JB Bank, Kbank, FairSquareLab and OBDIA. These participants will evaluate enterprise-grade settlement mechanisms for digital euro and won assets.
The platform will enable synchronized Payment-versus-Payment exchanges between regulated digital currencies. This approach ensures simultaneous settlement of both transaction sides, eliminating sequential
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