Chainlink and a multinational banking consortium have launched Project Pangea, aiming to enable T+0 atomic settlement for the global foreign exchange market, which is described as handling $9.6 trillion a day.

According to NS3.AI, the initiative includes more than 50 institutions across 16 countries and is designed to support atomic settlement in FX transactions.

The project combines Chainlink infrastructure with Swift ISO 20022 messaging and FairSquareLab’s settlement technology.

Qivalis, UniKA, and FairSquareLab were identified as the consortium’s three core partners.