Project Pangea brings together the Unified Korea Alliance (UniKA)—comprising Shinhan Bank, JB Bank, Kbank, and others—alongside the Qivalis consortium of 37 European banks. By integrating Chainlink’s Cross-Chain Interoperability Standard (CCIP) and ISO 20022 messaging, the initiative allows financial institutions to execute direct Payment-versus-Payment (PvP) swaps of regulated EUR and KRW stablecoins. This framework is designed to bypass the bottlenecks of current fragmented market structures, where cross-border transactions often stall due to intermediary currency conversions.

The technical architecture relies on a three-tier system: the Swift-based banking layer, the Chainlink connectivity layer, and a dedicated Pangea L1 settlement blockchain. FairSquareLab provides the liquidity engine for interbank settlement, anchoring price discovery to real-time oracle data to minimize slippage. By connecting these systems, the project seeks to eliminate settlement risk and reduce the liquidity costs that currently weigh on the $9.6 trillion daily global FX market.