Chainlink, Partners Launch $10 Trillion FX Project for T+0 Stablecoin Settlement

3 articles · Updated · PR Newswire · Jun 23

Project Pangea brings together Chainlink, FairSquareLab, UniKA and Qivalis with institutions representing more than $10 trillion in assets to test real-time cross-border FX settlement using EUR and KRW stablecoins.
The group is targeting bottlenecks in the traditional T+2 model, where the $9.6 trillion-a-day FX market still relies on fragmented infrastructure and intermediary currency conversions that delay transfers and tie up liquidity.
Chainlink will supply CCIP interoperability, data streams and orchestration linking Swift and ISO 20022 bank messaging to blockchains, while FairSquareLab provides the onchain FX engine and a dedicated Pangea L1 settlement network.
UniKA includes a five-member steering committee led by Shinhan Bank, JB Bank, Kbank, FairSquareLab and OBDIA, plus more than 10 Korean commercial banks; Qivalis is backed by 37 European banks.
The initiative aims to enable atomic payment-versus-payment swaps, cut settlement risk and intraday liquidity costs, and build a scalable institutional corridor between Europe and South Korea.

Sources

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PR Newswire5h ago

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CoinDesk21h ago

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aijourn.com5h ago

Chainlink and Multinational Banking Consortia Launch Project Pangea To Develop T+0 Settlement Framework for International FX Markets | The AI Journal

How will this direct EUR-KRW digital bridge challenge the US dollar's dominance in global foreign exchange markets?

As private stablecoins reshape global finance, can central banks adapt quickly enough to prevent new systemic risks?

With trillions at stake, can this blockchain FX system prove secure against catastrophic smart contract failures?

Project Pangea Debuts: Real-Time (T+0) Atomic PvP Settlement for Global FX Using Chainlink, Swift, and Stablecoins

Overview

Launched on June 23, 2026, Project Pangea marks a major leap for the global foreign exchange market by transforming cross-border settlement. By shifting from traditional multi-day processes to real-time, instant (T+0) settlement, Pangea enhances efficiency and reduces risks in international currency exchanges. The project initially targets the Europe–South Korea trade corridor, using compliant euro and won stablecoins to enable faster, safer transactions. Leveraging advanced technology and established financial frameworks, Project Pangea sets a new standard for global FX settlement, paving the way for a more efficient and secure international financial system.

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