Chainlink and 50+ Banks Launch Project Pangea for Instant FX Settlement
Chainlink and 50+ Banks Launch Project Pangea for Instant FX Settlement
🌍 Banks Skip the Wait
Project Pangea brings together over 50 banks from 16 countries to modernize global foreign exchange markets through instant settlement.
Key Features:
- Enables T+0 (same-day) settlement instead of traditional T+2 delays
- Uses Chainlink infrastructure with ISO 20022 messaging standards
- Facilitates atomic payment-versus-payment (PvP) swaps of regulated EUR and KRW stablecoins
- Connects banks to public and private blockchains using existing Swift infrastructure
Impact: The consortium represents over $10 trillion in assets under management and addresses bottlenecks in the world's largest financial market. Chainlink provides the data, interoperability, and orchestration standards needed for complex cross-chain, cross-border transactions.
Project Pangea allows financial institutions to execute direct atomic FX transactions with instant settlement while accessing onchain liquidity through their current systems.
At Point Zero Forum this week, Chainlink launched Project Pangea with a multinational consortia of 50+ banks to redefine global FX markets. Key highlights 🧵
NEW: Chainlink & multinational banking consortia launch Project Pangea to develop a novel solution redefining international FX markets. Pangea brings together 50+ banks, representing $10+ trillion AUM, to unlock T+0 cross-border settlement via Chainlink & ISO 20022 standards 🧵
Existing FX market systems face severe bottlenecks due to delayed T+2 settlement cycles and fragmented market structures. To address this challenge head on, Project Pangea is bringing together dozens of global financial institutions from across Europe and South Korea.
The core outcome of Project Pangea is unlocking faster, more efficient FX settlement. At Point Zero Forum, Chainlink Labs’ Niki Ariyasinghe explains how Project Pangea is bringing the future of global FX markets to financial institutions: youtube.com/watch?v=Cv0he-…
Project Pangea brings together banks across 16 countries to unlock T+0 cross-border settlement for the world’s largest financial market via Chainlink, Swift infra, & ISO 20022 messaging. “We need Chainlink”
NEW: Chainlink & multinational banking consortia launch Project Pangea to develop a novel solution redefining international FX markets. Pangea brings together 50+ banks, representing $10+ trillion AUM, to unlock T+0 cross-border settlement via Chainlink & ISO 20022 standards 🧵
52 banks. 16 countries. 1 standard. Fernando Vasquez, President of Capital Markets at Chainlink Labs, on Project Pangea ⬇️
NEW: Chainlink & multinational banking consortia launch Project Pangea to develop a novel solution redefining international FX markets. Pangea brings together 50+ banks, representing $10+ trillion AUM, to unlock T+0 cross-border settlement via Chainlink & ISO 20022 standards 🧵
With the recent launch of Project Pangea, Chainlink & 50+ global banks are redefining the world's largest financial market: International Forex. @AndrewMcMarkets, Head of Institutional and Market Development at Chainlink Labs, explains the impact on @therollupco ⤵️
NEW: Chainlink & multinational banking consortia launch Project Pangea to develop a novel solution redefining international FX markets. Pangea brings together 50+ banks, representing $10+ trillion AUM, to unlock T+0 cross-border settlement via Chainlink & ISO 20022 standards 🧵
Project Pangea is modernizing global FX markets, bringing together leading financial institutions & market infrastructure to unlock faster & more efficient cross-border settlement. Learn more about this landmark initiative: prnewswire.com/news-releases/…
Read the full announcement to learn how Chainlink is helping establish the blueprint for the next generation of regulated, cross-border finance ⬇️ prnewswire.com/news-releases/…
Under Pangea, Chainlink provides the data, interop, & orchestration standards required for complex cross-chain, cross-border transactions. Critically, Chainlink enables banks to seamlessly connect to any public/private chain using their existing systems & messaging standards.
By leveraging Chainlink, ISO 20022 messaging, & existing Swift infrastructure, Project Pangea enables banks to execute direct, atomic PvP swaps of regulated EUR & KRW stablecoins. This unlocks: ✅ Atomic FX transactions ✅ Instant (T+0) settlement ✅ Onchain liquidity access
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