Woofun AI reports that Chainlink has initiated the Pangea project in partnership with FairSquareLab, UniKA, and the Euro Stablecoin Alliance Qivalis to pioneer real-time cross-border foreign exchange settlement using stablecoins. The coalition unites UniKA, which includes a steering committee of Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA alongside over ten South Korean commercial banks, with Qivalis, backed by 37 leading European banks. Collectively, these institutions manage assets exceeding $10 trillion.

The Pangea initiative will utilize Chainlink's data, interoperability, and orchestration standards combined with FairSquareLab's on-chain foreign exchange settlement technology. This framework aims to facilitate direct atomic transactions between compliant fiat-linked digital assets, such as the euro and the Korean won, thereby accelerating the transition of the foreign exchange market from the conventional T+2 settlement cycle to T+0 real-time settlement.