BlockBeats News, June 24th, Chainlink announced the launch of the Pangea project in collaboration with FairSquareLab, UniKA, and the Euro Stablecoin Alliance Qivalis. The project aims to explore a real-time cross-border forex settlement model based on stablecoins. The Pangea project will leverage Chainlink data, interoperability and composability standards, as well as FairSquareLab's on-chain forex settlement technology, to achieve direct atomic transactions between compliant fiat-pegged digital assets such as the Euro and the Korean Won. This initiative will drive the forex market from the traditional T+2 settlement to a T+0 real-time settlement model.

UniKA is guided by a steering committee composed of Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with participation from over a dozen South Korean commercial banks; Qivalis is supported by 37 leading European banks. Together, these entities represent a combined total of over $10 trillion in assets under management.