Chainlink joins 47 banks in Project Pangea for stablecoin cross-border payments

Chainlink joins Project Pangea, a coalition of 47 European and South Korean banks, to enable near-instant stablecoin-based cross-border payments for the $150 billion Europe-South Korea trade corridor. The project targets live transactions within 12 months.

• Project Pangea includes 37 European banks via Qivalis and 10+ Korean banks via UniKA, representing over $10 trillion in AUM.
• The initiative aims to cut FX settlement from 48 hours (T+2) to near-instant (T+0) using regulated euro and won stablecoins.
• Atomic payment-versus-payment settlement ensures both sides of a currency trade settle simultaneously or not at all.
• The Europe-South Korea trade corridor processes over $150 billion in goods and services annually.
• Chainlink says this is real infrastructure, not a proof-of-concept, with live transactions targeted within 12 months.

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