Oracle provider Chainlink’s Project Pangea has assembled 50+ banks across 16 countries to bring DLT-powered real-time atomic settlement to the $9.6 trillion per day foreign exchange market.
The project’s bank partners include members of three European and Korean consortia, while the technology base comprises Chainlink’s CCIP (Cross-Chain Interoperability Protocol), Swift’s ISO 20022 messaging service and DLT-based settlement technology from FairSquareLab, a Korean digital asset infrastructure developer.
FairSquareLab’s onchain settlement technology uses stablecoin transfers and smart contracts running on Ethereum, Polygon, and a proprietary L1 network. Banks access Pangea via existing Swift connections while Chainlink supports digital asset transfers and FX market data.
Subscribe to our newsletter
