Chainlink Partners With 47 Banks Across South Korea and Europe on Blockchain Remittance Pilot

According to Chainlink's announcement on June 23, 2026, the decentralized oracle network has partnered with 47 banks across South Korea and Europe to explore blockchain-powered international remittance solutions. The initiative aims to reduce settlement times and lower operational costs for cross-border transfers. Participating banks, whose identities have not been publicly disclosed, are currently conducting internal testing in an early pilot phase.

Chainlink's oracle network will provide real-time exchange rate data and interoperability between traditional banking systems and blockchain networks. Smart contracts will automate fund transfers once predefined conditions are met, reducing processing times from several business days to minutes. The pilot seeks to establish blockchain-based remittance corridors connecting the two regions, eliminating multiple intermediaries and streamlining the overall payment process.