Svmuu News: Chainlink has announced the launch of the Pangea project in collaboration with FairSquareLab, UniKA, and the euro-pegged stablecoin alliance Qivalis, with the aim of exploring real-time cross-border foreign exchange settlement models based on stablecoins.
According to the announcement, UniKA’s steering committee consists of Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with more than ten South Korean commercial banks participating; Qivalis is supported by 37 leading European banks. Collectively, these institutions represent over $10 trillion in assets under management.
The Pangea project will leverage Chainlink’s data, interoperability, and orchestration standards, as well as FairSquareLab’s on-chain foreign exchange settlement technology, to enable direct atomic transactions between the euro, South Korean won, and other compliant fiat-pegged digital assets, and will drive the transition of the foreign exchange market from traditional T+2 settlement to a T+0 real-time settlement model.