The giant of traditional finance is finally starting to change course. With an asset management scale of 10 trillion yuan moving onto the blockchain, the T+0 cross-border settlement move is aggressive enough to count as a bold play.

Chainlink announces collaboration with 47 European and Korean banks with a total asset management size exceeding $10 trillion, to jointly advance the Project Pangea. The project plans to utilize regulated euro and Korean won stablecoins, aiming to achieve near real-time (T+0) cross-border settlement for euro-Korean corridor foreign exchange trading within 12 months. Chainlink will provide middleware technology to convert traditional Swift instructions into instant atomic swaps on a decentralized network, aiming to reduce liquidity costs and settlement risks. (CoinDesk)