Chainlink and a multinational banking consortium of more than 50 institutions across 16 countries launched Project Pangea at Point Zero Forum in Zurich on Tuesday, targeting T+0 atomic settlement for the $9.6 trillion-a-day global FX market.
The initiative pairs Chainlink's oracle and interoperability stack with Swift's ISO 20022 messaging and FairSquareLab's settlement technology to enable direct Payment-versus-Payment (PvP) swaps of regulated EUR and KRW stablecoins. The formal announcement names three core consortium partners: Qivalis, a euro stablecoin consortium backed by 37 European banks; UniKA (Unified Korea Alliance), the Korean coalition behind Project Pangea, which comprises a steering committee of five entities — Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA — alongside 10+ participating Korean commercial banks; and FairSquareLab, a Korean onchain FX infrastructure firm.
Project Pangea's architecture runs on three layers: a banking layer built on Swift and ISO 20022 messaging; a connectivity layer using Chainlink CCIP and Data Streams for high-speed FX market data; and a settlement layer of AMM smart contracts deployed on Ethereum, Polygon, and a dedicated Pangea L1 blockchain operated by FairSquareLab.
