On July 14, 2025, the ISO 20022 financial messaging standard will go live for the Federal Reserve’s Fedwire Funds Service. This marks a significant step in modernizing the financial infrastructure and has implications for various technologies and institutions.
Importance of ISO 20022 Launch
The launch of ISO 20022 represents a crucial step in updating the global financial system. This standard promises to improve interoperability and speed up financial transactions through a standardized, data-rich messaging format.
Ripple's Alignment with ISO 20022 Standards
Ripple, which develops blockchain-based payment solutions, has been a member of the ISO 20022 Standards Body since 2020. This allows RippleNet to meet the evolving requirements of financial institutions globally, integrating more effectively with traditional financial systems. According to sources, compliance with these standards may facilitate greater integration and use of Ripple's products in international transactions.
XRP's Relationship with ISO 20022
While RippleNet is compliant with ISO 20022, the XRP token itself is not. According to Ripple's Chief Technology Officer David Schwartz, the standard pertains to the formatting and transmission of messages between financial institutions and not to cryptocurrencies. This clarifies existing misconceptions in the cryptocurrency community.
The launch of ISO 20022 in July 2025 will serve as a foundation for the wider adoption of real-time, high-accuracy, and data-rich financial messaging. Ripple's positioning in this context may provide it with certain advantages, despite the lack of formal compliance of XRP with this standard.
