Chainlink Joins Project Pangea Consortium of 47 Banks Managing $10 Trillion to Accelerate Stablecoin Payments on June 23

According to BlockBeats, on June 23, Chainlink Labs joined Project Pangea, a consortium of 47 banks (37 European banks via Qivalis and over 10 Korean commercial banks via UniKA) collectively managing over $10 trillion in assets. The collaboration aims to accelerate real-time cross-border foreign exchange settlements using regulated euro and won-pegged stablecoins within one year.

The project targets transforming foreign exchange settlement cycles from the traditional T+2 (48 hours after transaction) to near-instant T+0 settlement, leveraging stablecoins pegged 1:1 to their underlying fiat currencies.