Chainlink joins European and Korean bank consortia to develop FX settlement network
Cointelegraph 2026-06-23 15:45:00
Context: Banks in Europe and South Korea are collaborating on a project to explore the use of regulated stablecoins for real-time cross-border foreign exchange settlement. The initiative, known as Pangea, aims to leverage blockchain technology to facilitate more efficient and secure transactions. Chainlink, a prominent player in the blockchain industry, has joined the consortium to support the development of this network.
Key Facts
- Banks across Europe and South Korea will study the feasibility of using regulated euro and won stablecoins for real-time cross-border foreign exchange settlement.
- The project, known as Pangea, seeks to harness blockchain technology to enable more efficient and secure cross-border transactions.
- Chainlink has joined a consortium of European and Korean banks to support the development of the Pangea network for FX settlement.
- The use of regulated stablecoins is being explored as a potential solution to facilitate real-time cross-border foreign exchange settlement.
- The Pangea project aims to improve the efficiency and security of cross-border transactions, although specific implementation details and timelines have not been disclosed.