Chainlink teams up with 47 South Korean, European banks to speed up international money transfers (opens original article in a new tab)

Chainlink collaborates with 47 South Korean and European banks on Project Pangea to enable real-time, stablecoin-based cross-border payments, aiming to reduce settlement risk and improve efficiency in a $150 billion trade corridor.

• Chainlink partners with 47 South Korean and European banks to enable real-time cross-border payments using stablecoins
• Project Pangea uses atomic payment-versus-payment mechanisms to reduce settlement risk in a $150 billion trade corridor
• The initiative integrates with existing Swift and ISO 20022 systems while settling on a blockchain network
• The project aims to achieve live transactions within a legal framework within 12 months