Chainlink announced the launch of Project Pangea, a cross-border foreign exchange settlement initiative backed by 47 South Korean and European banks representing more than $10 trillion in combined assets.
The Pangea project brings together Chainlink, Qivalis and UniKA, two banking groups consisting of 37 European banks and more than 10 South Korean banks, respectively.
What is the Pangea project?
The Pangea project aims to speed up foreign exchange settlement. Currently, these trades typically take 48 hours to clear, and are referred to as T+2 settlement. Pangea project He wants to reduce that to a near-instant settlement, or T+0. It will do this using regulated stablecoins pegged to the euro and the South Korean won.
The project connects Chainlink to two banking groups. The first is Kevalis, a euro stablecoin group made up of 37 European banks.
The second is UniKA, an alliance of more than 10 South Korean commercial banks. The project focuses on the trade corridor between Europe and South Korea, which handles more than $150 billion in goods and services every year. It is ranked among the 15 largest trade routes in the world.
The technology used in the rapid settlement of the Pangea project is called atomic pay-for-payment settlement. In simple terms, both sides of the coin are trading at the exact same time. If one side fails, neither side will pass, eliminating the risk that one side might not pay after the other side has already sent their money.
European banks will still initiate their transactions through SWIFT, which banks have used since the 1970s, and then Chainlink technology turns those messages into on-chain atomic swaps running on a separate ledger called the Pangea L1 network.
Nikki Aryasinghe, Chainlink’s vice president for Asia Pacific and the Middle East, said the group wants to start direct transactions within the next 12 months.
LINK price has not followed Chainlink’s institutional momentum
in May, Cryptopolitan reported DTCC selected Chainlink’s operating environment for the Collapse AppChain, a blockchain-based platform that handles collateral pricing, margining and settlement automatically around the clock.
DTCC processed approximately $4.7 quadrillion in securities transactions in 2025.
Earlier this year, Cryptopolitan also did I mentioned Robinhood has selected Chainlink as the oracle provider for Robinhood Chain, the Ethereum Layer 2 network built on Arbitrum. In the first quarter of 2026, Amundi and Spiko used Chainlink technology to launch a tokenized mutual fund that raised more than $400 million in assets within three weeks.
There are more partnerships too. In December 2025, Chainlink I worked with 24 financial institutionsincluding DTCC, Swift, Euroclear, UBS and BNP Paribas. They have built an infrastructure to process corporate actions that typically costs the industry about $58 billion each year.
In the first quarter of 2026, the US Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) jointly said LINK is a digital commodity. In April 2026, Chainlink has been launched on the AWS Marketplacegiving millions of developers access to data feeds, data streams, and backup proofing tools.
However, despite all these partnerships, LINK remained between $8 and $10 for most of 2026. In late April, the token was trading at around $9.23. That’s up 9.5% over 30 days. But it decreased by 36.6% compared to the previous year. This puts LINK about 82% below its all-time high of $52.70 as of May 2021.
LINK’s spot ETF flows rose from $10.82 million in March to $11.08 million in April. This was the first monthly increase since December, which saw a peak of $59.16 million.
There is a clear gap between how much Chainlink technology is used and how it is used Nominal price It moves. Cryptopolitan reported that Chainlink handled more than $28 trillion in total transaction volume. The cross-chain interoperability protocol moves about $90 million in tokens every week, and real-world assets built on Chainlink will reach $27 billion in 2026.
