Chainlink teams up with 47 European and Korean banks to advance Project Pangea, aiming to achieve cross-border real-time stablecoin settlement within one year

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Deep Tide TechFlow News, June 23, according to CoinDesk, blockchain infrastructure company Chainlink announced it has joined the Project Pangea alliance, which is jointly formed by the European Stablecoin Consortium Qivalis (backed by 37 European banks) and the Korean Bank Alliance UniKA (representing over 10 commercial banks), managing a total of over $10 trillion in assets. The project focuses on the economic corridor between Europe and Korea with an annual trade volume exceeding $150 billion, aiming to reduce the foreign exchange settlement cycle from the traditional T+2 (48 hours) to T+0 (near real-time) through regulated euro and won-pegged stablecoins, and adopting atomic PvP (pay-to-pay) settlement mechanisms to reduce counterparty risk. Chainlink will serve as middleware, translating traditional Swift instructions into real-time atomic exchanges on the blockchain, without replacing existing banking payment infrastructure. The project's goal is to complete real transactions under a compliant framework within 12 months.
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