Chainlink teams up with 47 South Korean, European banks to speed up international money transfers

Project Pangea, a collaboration between Chainlink and 47 banks from South Korea and Europe, aims to revolutionize international money transfers by utilizing stablecoins for near real-time settlement of large currency trades. This initiative seeks to drastically reduce the time and costs associated with cross-border transactions, potentially transforming global financial operations. The partnership underscores the growing role of blockchain technology in streamlining financial processes, with implications for lowering fees and increasing efficiency in international trade and finance.