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

60-second summary

Chainlink is teaming up with 47 South Korean and European banks to launch Project Pangea, a platform using stablecoins to settle multimillion-dollar currency trades between Europe and South Korea in near real-time. This collaboration aims to significantly reduce transfer times, currently taking days, potentially disrupting traditional cross-border payment systems and increasing financial efficiency.