Currency exchange board for a ProCoinNews article about Project Pangea and FX settlement.

Chainlink Pulls 50+ Banks Into Project Pangea for Same-Day FX Settlement

By Isaac • June 28, 2026 5:56 pm • Comments

Chainlink and a multinational group of banking consortia announced Project Pangea on June 23, a working group built to develop a T+0 settlement framework for international FX markets.

The partners on the release are Chainlink, FairSquareLab, UniKA and Qivalis. Together the group represents more than $10 trillion in assets under management.

The goal is same-day foreign exchange settlement using regulated stablecoins, built on standards banks already run.

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This is bank plumbing, not a meme-coin launch. That is exactly why crypto readers should pay attention.


The participant list is the tell here. According to the official release, Qivalis is a euro stablecoin consortium powered by 37 European banks.

On the Korean side, UniKA includes Shinhan Bank, JB Bank, Kbank, FairSquareLab and OBDIA, plus more than 10 participating Korean commercial banks.

That is real institutional weight signing up to test settlement rails that route through public crypto infrastructure.

PR Newswire carried the official Project Pangea announcement and participant list. The release said Chainlink, FairSquareLab, UniKA and Qivalis announced Project Pangea on June 23.

It said the working group represents more than $10 trillion in assets under management. Qivalis is described as a euro stablecoin consortium powered by 37 European banks.

UniKA is described as a Korean coalition involving Shinhan Bank, JB Bank, Kbank, FairSquareLab, OBDIA and more than 10 participating Korean commercial banks. Those details make the story bigger than a normal protocol partnership.

This is a bank-consortium experiment around foreign exchange settlement. The article should keep the adoption line precise: Project Pangea is a working group and framework effort, not proof that live bank FX settlement has already moved onchain at scale.

The Paypers explained how the FX settlement architecture is supposed to work. The Paypers said Project Pangea targets direct atomic payment-versus-payment swaps of regulated EUR and KRW stablecoins.

It described a banking layer that uses Swift and ISO 20022, a connectivity layer that uses Chainlink CCIP and Data Streams, and a settlement layer built on FairSquareLab’s Pangea L1. That architecture matters because banks rarely want to throw away their existing messaging systems.

The stronger pitch is compatibility: keep familiar bank rails at the edge while using blockchain infrastructure for faster settlement under the hood. For crypto readers, the important part is that stablecoins are being discussed as regulated settlement instruments, not speculative trading chips.

That is the part of the stablecoin story large institutions are most likely to test.


Chainlink put its own framing on the launch from Point Zero Forum.

In its June 26 posts, the company said the consortium brings together 50+ banks to redefine global FX markets, and that the core outcome is faster, more efficient FX settlement.

Note what LINK is and is not in this design. It is not a bank-issued token.

The regulated EUR and KRW stablecoins are the settlement assets, and Chainlink provides the data and interoperability layer that lets them move.

For anyone watching where crypto infrastructure actually get used at scale, that division of labor is the story.

Oracles and cross-chain messaging are becoming the connective tissue between bank consortia, more than between DeFi protocols.


A working group with $10 trillion behind it is a signal, not a finished system. The banks still have to build, test and clear regulators before any of this settles real money.

But the direction is hard to miss. When dozens of European and Korean banks agree to test same-day FX settlement on stablecoins and Chainlink infrastructure, the institutional case for crypto plumbing stops being theoretical.

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