Svmuu News: Chainlink has launched the Pangea project in collaboration with FairSquareLab, a South Korean digital asset infrastructure company; UniKA, a unified South Korean consortium comprising more than a dozen South Korean commercial banks; and Qivalis, a euro-stablecoin consortium backed by 37 European banks.
The project aims to bring together financial institutions from Europe and South Korea to assess the feasibility of direct atomic swap settlements for stablecoins denominated in euros and South Korean won, utilizing Chainlink’s data infrastructure and FairSquareLab’s on-chain foreign exchange settlement technology. Currently, the project is in the working group phase, and no timeline for production deployment has been announced. Additionally, fintech startup OpenFX recently raised $94 million to expand its stablecoin-based payment network. (Cointelegraph)