A major shift in global finance is finally here. SWIFT is retiring its old MT payment system this month, giving full control to ISO 20022. This upgrade could completely change how banks communicate and move money across borders. And for cryptos like XRP, XLM, XDC, and HBAR, it might be the turning point for mainstream adoption.
Global Payment System Is Upgrading
ISO 20022 isn’t a new concept, it was introduced back in 2004. But only now, with the rise of blockchain and advanced financial technologies, are banks and institutions ready to fully adopt it.
This global messaging standard modernizes how financial data is shared between systems, allowing faster, more transparent, and more detailed cross-border transactions.
This month marks a major milestone as the coexistence period between SWIFT’s old MT system and the new ISO 20022 messaging standard officially ends. This means all global banks are now required to upgrade their systems to handle ISO 20022 payments, and that directly connects with crypto.
Why It Matters for Crypto?
The adoption of ISO 20022 means that financial institutions can now more easily integrate with blockchain networks that already follow this format.
This upgrade could help bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi), creating smoother pathways for cross-border payments, remittances, and even tokenized assets.
Cryptos like XRP, XLM, XDC, and HBAR were designed with ISO 20022 compatibility in mind, making them natural fits for global banking infrastructure..
More Than Just Ripple’s Moment
However, as Nick noted, this isn’t just about Ripple. ISO 20022’s upgrade is a rising tide that could lift all utility-driven projects.
As financial data becomes more structured, programmable, and interoperable, cryptos built for real-world use cases, not speculation, could finally step into the spotlight.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
