The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
As the banking sector accelerates blockchain adoption, Chainlink has launched the Pangea initiative involving 47 banks, according to reports. The initiative aims to pilot same-day settlement of EUR-KRW cross-border transactions using the LINK token, marking a potential shift toward crypto-based interbank transfers.
The move comes as banks seek to reduce costs and settlement times in cross-border corridors, particularly between Europe and Asia. Chainlink is collaborating with Qivalis and UniKA on the project, which could compete with established systems like SWIFT and Ripple if commercially implemented. Global cross-border payment flows are estimated in trillions of dollars annually, making any efficiency gains significant.
Details on the LINK token pricing mechanism have not been disclosed, but the market is watching for price reactions. According to market data, LINK has not seen major volatility since the announcement, but analysts suggest success could drive demand for the token. Investors should monitor further announcements from the Pangea consortium.
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