Chainlink and 50-Plus Banks Launch Project Pangea for Instant Cross-Border Settlement

Chainlink joined Project Pangea with more than 50 banks holding over 10 trillion dollars in assets to test T+0 cross-border FX settlement using compliant euro and Korean won stablecoins on existing Swift and ISO 20022 rails.

Chainlink and 50-Plus Banks Launch Project Pangea for Instant Cross-Border Settlement Chainlink joined Project Pangea with more than 50 banks holding over 10 trillion dollars in assets to test T+0 cross-border FX settlement using compliant euro and Korean won stablecoins on existing Swift and ISO 20022 rails. Aaron Rafferty June 24, 2026 Key Takeaways Chainlink joined Project Pangea, a consortium of more than 50 banks holding over 10 trillion dollars in assets, to test same-day T+0 cross-border settlement, announced June 24. The project uses compliant euro and South Korean won stablecoins for payment-versus-payment trades that settle at the same instant or not at all, cutting settlement risk. Pangea runs on existing Swift messaging and ISO 20022 standards, so banks plug in without replacing their core systems. Chainlink has joined Project Pangea, a bank-backed effort to settle cross-border currency trades the same day instead of two business days later. The group announced the project on June 24, describing itself as more than 50 banks with over 10 trillion dollars in assets under management, according to Chainlink's announcement carried by crypto.news . The consortium brings together Chainlink, FairSquareLab, the European bank network Qivalis, and the Korean bank group UniKA. Qivalis is backed by 37 European banks, and UniKA represents more than 10 Korean commercial banks. Together they want to replace the standard T+2 settlement cycle, where a currency trade can sit unsettled for two business days, with atomic trades that clear in real time. The mechanics matter. Under the model Pangea will test, both sides of a foreign exchange trade settle at the same moment using compliant euro and South Korean won stablecoins, or neither side settles at all. That design remove