Chainlink And Partners Launch Project Pangea To Advance Stablecoin-Based Cross-Border FX Settlement | Metaverse Post
June 24, 2026byAlisa DavidsonPublished: June 24, 2026 at 4:22 am Updated: June 24, 2026 at 4:22 ambyAnastasiia OEdited and fact-checked: June 24, 2026 at 4:22 amIn BriefChainlink and partners launch Project. . .
June 24, 2026byAlisa DavidsonPublished: June 24, 2026 at 4:22 am Updated: June 24, 2026 at 4:22 ambyAnastasiia OEdited and fact-checked: June 24, 2026 at 4:22 amIn BriefChainlink and partners launch Project Pangea to enable real-time stablecoin-based FX settlement between Europe and South Korea. Blockchain infrastructure providerChainlink, in collaboration with digital asset infrastructure technology companyFairSquareLab, stablecoin cooperative UniKA (Unified Korea Alliance), and euro stablecoin consortiumQivalis, has announced the launch of Project Pangea, a joint initiative focused on advancing cross-border foreign exchange settlement through stablecoin-based infrastructure. The project seeks to establish a framework that enables financial institutions in Europe and South Korea to conduct direct exchanges of regulated fiat-backed digital currencies, including euro- and Korean won-denominated stablecoins. By combining Chainlink’s interoperability and data infrastructure with FairSquareLab’s settlement technology, the initiative aims to support real-time foreign exchange transactions without relying on traditional intermediary currency conversions. The announcement comes as global foreign exchange markets continue to process trillions of dollars in daily transactions. Despite the scale of the market, cross-border payments often face delays and operational complexity due to fragmented infrastructure and multi-step settlement processes. Project Pangea is intended to address these challenges through blockchain-based settlement mechanisms designed to streamline currency exchanges between participating institutions. The initiative plans to utilize existing ISO 20022 messaging standards alongside established banking infrastructure to facilitate atomic Payment-versus-Payment (PvP) transactions involving compliant stablecoins. The framework is designed to support direct currency exchanges, enable near-instant settlement, and improve access to cross-border liquidity across multiple markets. NEW: Chainlink & multinational banking consortia launch Project Pangea to develop a novel solution redefining international FX markets. Pangea brings together 50+ banks, representing $10+ trillion AUM, to unlock T+0 cross-border settlement via Chainlink & ISO 20022 standards 🧵pic. twitter. com/hcEjxKthd6— Chainlink (@chainlink)June 23, 2026Technology Framework and Settlement InfrastructureChainlink’s technology stack forms a core component of the project. Its Cross-Chain Interoperability Protocol (CCIP) is expected to facilitate the transfer of stablecoins between blockchain networks, helping reduce liquidity fragmentation. Chainlink Data Streams will provide real-time foreign exchange pricing data to support market operations, while the Chainlink Runtime Environment will act as a coordination layer connecting traditional banking systems with blockchain-based settlement networks. FairSquareLab contributes an onchain foreign exchange settlement mechanism designed for institutional use. The system is structured to reference external FX pricing data directly, with the objective of reducing slippage and maintaining liquidity stability during large-scale currency exchanges. The company is also providing the Pangea Layer 1 network, a blockchain dedicated to settlement activities and designed to operate independently of any single financial institution or jurisdiction. According to the project partners, the settlement network is intended to ensure that pricing updates are processed before transaction execution, allowing exchanges to reflect current market conditions. The infrastructure is designed to support direct and atomic settlement between participating institutions. The overall architecture consists of three integrated layers. The banking layer relies on Swift and ISO 20022 messaging standards already used by financial institutions. The connectivity layer is powered by Chainlink’s interoperability and data services, while the settlement layer utilizes smart contracts deployed across networks including Ethereum, Polygon, and the Pangea Layer-1 blockchain. Under the proposed model, banks would continue operating through existing payment messaging systems, with settlement instructions translated into blockchain-based transactions through Chainlink’s interoperability framework. The initiative aims to provide a scalable foundation for multi-currency digital asset settlement while maintaining compatibility with established financial infrastructure. 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More articlesAlisa DavidsonAlisa DavidsonAlisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance. Hot StoriesJoin Our Newsletter. Latest NewsThe Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying NowSolana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential . . . Know More