Crypto researcher SMQKE has highlighted an important deadline for the completion of the CBPR+ initiative by SWIFT, set for November 2025.
CBPR+ and ISO 20022 Standards
CBPR+, or Cross-Border Payments and Reporting Plus, is a central component of SWIFT's strategy to standardize cross-border payment messaging under the ISO 20022 standard. The November 2025 deadline marks the completion of a multi-year transition for major financial institutions to adopt these standards, which will improve data quality, transaction speed, and enable full interoperability among financial institutions.
Ripple's Role in Future Payments
SMQKE's post also emphasizes that this migration lays the technical foundation for the seamless integration of Ripple's blockchain-based services into the SWIFT network. Ripple has already built the necessary infrastructure, which may open pathways for using its technologies within traditional banking systems.
Infrastructure Readiness for Blockchain Integration
Documents referenced in the post indicate that CBPR+ will serve as the backbone of SWIFT's instant payment system. Besides initiatives like SWIFT Go, private companies such as Ripple have already delivered blockchain-based solutions for instant cross-border settlements. A document from ProgressSoft illustrates how a Centralized Payments Hub can facilitate the CBPR+ guidelines, ensuring compatibility with various payment service providers, including Ripple.
Finalizing the CBPR+ deadline highlights a broader shift toward digital transformation in banking and the potential for increased participation from blockchain services like Ripple in the international payment ecosystem.
