Chainlink's Project Pangea launches with 50+ banks for instant FX settlement

At the Point Zero Forum in Zurich, Chainlink announced the launch of Project Pangea, a multinational consortium of more than 50 banks and financial institutions from 16 countries. The project aims to provide real‑time (T+0) settlement for the $9.6 trillion daily foreign‑exchange market by using regulated stablecoins tied to the euro and the South Korean won.

Project Pangea integrates existing bank messaging standards such as SWIFT and ISO 20022 with Chainlink’s CCIP interoperability layer and Data Streams for live price feeds. Settlement is executed on smart‑contract platforms including Ethereum, Polygon and the purpose‑built Pangea blockchain, allowing banks to exchange assets directly without intermediary currencies. The initiative is presented as a way to reduce latency, lower liquidity costs and improve security for cross‑border payments while preserving banks’ current infrastructure.

The effort reflects growing collaboration between European financial firms and South Korean institutions, signaling broader institutional interest in combining blockchain technology with traditional banking operations.