Chainlink teams up with 47 South Korean, European banks to speed up international money transfers
CoinDesk 2026-06-23 15:40:00
Context: Chainlink has partnered with 47 banks from South Korea and Europe to facilitate faster international money transfers through a project called Project Pangea. This initiative aims to leverage stablecoins to settle large-scale currency trades between Europe and South Korea in near real-time. The project seeks to increase the efficiency and speed of cross-border transactions.
Key Facts
- Chainlink has teamed up with 47 banks from South Korea and Europe for a project aimed at accelerating international money transfers.
- The project, called Project Pangea, plans to utilize stablecoins to settle multimillion-dollar currency trades between Europe and South Korea.
- The goal of Project Pangea is to enable near real-time settlement of large-scale currency trades between the two regions.
- By leveraging stablecoins, the project aims to increase the efficiency and speed of cross-border transactions, reducing the time and costs associated with traditional methods.
- The partnership brings together a significant number of banks from both South Korea and Europe, indicating a substantial collaborative effort to modernize international money transfers.