by Jake ClaverProject Pax, Progmat, and Datachain: stablecoins doing real settlement work
Project Pax, Progmat, and Datachain put stablecoins to work as settlement money. Every part of it traces back to a named, primary source.
The Settlement Layer
This material is about fiat-denominated value moving through the ecosystem, usually via issuance or settlement. Supporting material comes from the Progmat/South Korea Project Pax PoC PDF and the Cosmos Project Pax technical explainer. Datachain/Progmat Project Pax announcement states it directly:
> (CEO: Joonhong Kim, hereinafter "Fairsquarelab"), and Korea Digital Asset Custody Co., Ltd. (CoCEOs: Min-Su Kim and Cheong-Woo Lee, hereinafter "Korea Digital Asset Custody") have signed a Memorandum of Understanding (MOU) for a proof-of-concept (PoC) on Project Pax, a cross-border stablecoin remittance platform project in collaboration with Swift. Through this PoC under the MOU, we will work on connecting the infrastructure for stablecoin remittances between Japan and South Korea.
What This Means For Market Infrastructure
What it changes for the broader institutional payments and tokenization stack: stablecoin activity can improve how useful a network is for payments and treasury operations.
From The Source
