Ripple and Chainlink's Competition Surrounding Bank Foreign Exchange Settlement, Why Korea and Europe Were Chosen as the First Stage

Summary

Choi Yun-young discusses Chainlink's Project Pangea for real-time FX settlement with banks and its competition with Ripple, as well as Chainlink's expansion into on-chain data for Asian equities. The panel also examines Meta's entry into prediction markets and reiterates a long-term bullish stance on Bitcoin despite near-term downside risks.

• Chainlink partnered with banks on FX settlement project, using existing standards to reduce adoption hurdles.
• Chainlink aims for real settlement within 12 months, posing potential competition to Ripple.
• Europe-Korea chosen for the first phase due to heavy trade and stablecoin settlement trends.
• Chainlink expanding on-chain data infrastructure to Asian equities (Samsung, SK Hynix).
• Meta is developing a points-based prediction market app 'Arena' amid slowing core growth.
• Prediction markets grew significantly post-2024 elections, with Polymarket surpassing $10B volume.
• Bitcoin/digital assets should be viewed with a long-term perspective despite short-term downside risks.
• Regulatory uncertainty looms for prediction markets and crypto-related settlement.