Recent remarks from prominent crypto researcher SMQKE on X highlight the significance of the ISO 20022 migration deadline for cross-border payments set for November 2025.
Previous Delays and Current Timeline
The journey towards adopting ISO 20022 has faced numerous delays. The migration date was moved from November 2021 to the end of 2022. These delays were attributed to banks managing their infrastructure transitions. The screenshot shared by SMQKE shows that despite past delays, SWIFT has confirmed that the November 2025 date is final.
CBPR+ and SWIFT’s 2025 Objectives
CBPR+ refers to the ISO 20022-based standard designed for cross-border payments. This shift is particularly significant to the crypto space, as many experts see XRP as a leader in cross-border payments. SWIFT's CBPR+ working group is finalizing new usage guidelines, expected by the end of 2025, which will introduce support for hybrid postal addresses.
Implications for Financial Institutions and XRP
SWIFT’s confirmation is particularly relevant for entities developing systems around ISO 20022 standards. While XRP itself is not ISO 20022 compliant, Ripple utilizes this standard in its payment product. With a fixed November migration date, financial institutions must now prepare for implementation.
SWIFT has confirmed that the migration deadline for ISO 20022 will not be moved. This confirmation creates a definitive timeline for financial institutions to adapt to the new standard.
