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Project Pangea unveiled
23 June 2026 Switzerland
Image: winyu/stock.adobe.com
Chainlink and a multinational banking consortium have launched Project Pangea, a strategic, collaborative task force, which the firms say intend to redefine global FX markets by unlocking real-time, stablecoin-based cross-border settlement models.
The initiative is made up of FairSquareLab, Chainlink, Unified Korea Alliance (UniKA) — which represents the Korean coalition behind Project Pangea — and is comprised of a steering committee of 5 entities over 10 participating Korean commercial banks, and Qivalis, a euro stablecoin consortium powered by 37 European banks.
The collaboration is designed to bring together global financial institutions from across Europe and South Korea to unlock the direct, atomic swap of regulated, fiat-referenced digital assets (including euro and Korean won stablecoins) by using Chainlink’s data, interoperability, orchestration standards, along with FairSquareLab’s onchain FX settlement technology.
Project Pangea will use Chainlink and ISO 20022 messaging standards and existing Swift infrastructure to enable banks to execute direct, atomic Payment-versus-Payment (PVP) swaps of compliant EUR and KRW stablecoins.
Designed to establish a scalable multi-currency settlement network, Project Pangea focuses on: enabling direct atomic FX transactions between compliant regional currencies using stablecoins, supporting instant (T+0) PvP settlement, and expanding onchain liquidity across currencies, unlocking frictionless access to global currency markets.
Fernando Vasquez, president of Capital Markets, Chainlink Labs, notes: “Project Pangea upgrades the fragmented foreign exchange model of today with direct, atomic currency swaps using stablecoins.”
Joonhong Kim, CEO, FairSquareLab, remarks: “For Korea, Project Pangea is more than an efficiency gain — it opens a path for the Korean won to connect more directly with global currency markets, reducing reliance on intermediary currencies.”
Jean-Luc Gustave, head of Partnerships, APAC, Qivalis, adds: “Connecting regulated EUR and KRW stablecoins through atomic settlement would move the conversation past theoretical use cases, proving how next-generation infrastructure would optimise international trade corridors.
“For global participants, migrating to a friction-free cross-border model could unlock significant capital efficiency by eliminating traditional settlement risk and reducing intraday liquidity costs, safely opening the door to high-volume institutional flows.”
The initiative is made up of FairSquareLab, Chainlink, Unified Korea Alliance (UniKA) — which represents the Korean coalition behind Project Pangea — and is comprised of a steering committee of 5 entities over 10 participating Korean commercial banks, and Qivalis, a euro stablecoin consortium powered by 37 European banks.
The collaboration is designed to bring together global financial institutions from across Europe and South Korea to unlock the direct, atomic swap of regulated, fiat-referenced digital assets (including euro and Korean won stablecoins) by using Chainlink’s data, interoperability, orchestration standards, along with FairSquareLab’s onchain FX settlement technology.
Project Pangea will use Chainlink and ISO 20022 messaging standards and existing Swift infrastructure to enable banks to execute direct, atomic Payment-versus-Payment (PVP) swaps of compliant EUR and KRW stablecoins.
Designed to establish a scalable multi-currency settlement network, Project Pangea focuses on: enabling direct atomic FX transactions between compliant regional currencies using stablecoins, supporting instant (T+0) PvP settlement, and expanding onchain liquidity across currencies, unlocking frictionless access to global currency markets.
Fernando Vasquez, president of Capital Markets, Chainlink Labs, notes: “Project Pangea upgrades the fragmented foreign exchange model of today with direct, atomic currency swaps using stablecoins.”
Joonhong Kim, CEO, FairSquareLab, remarks: “For Korea, Project Pangea is more than an efficiency gain — it opens a path for the Korean won to connect more directly with global currency markets, reducing reliance on intermediary currencies.”
Jean-Luc Gustave, head of Partnerships, APAC, Qivalis, adds: “Connecting regulated EUR and KRW stablecoins through atomic settlement would move the conversation past theoretical use cases, proving how next-generation infrastructure would optimise international trade corridors.
“For global participants, migrating to a friction-free cross-border model could unlock significant capital efficiency by eliminating traditional settlement risk and reducing intraday liquidity costs, safely opening the door to high-volume institutional flows.”
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