#ISO20022
🔐 ISO 20022 & Cryptocurrencies: What do they have in common?
Many have heard of ISO 20022, but not everyone understands what it has to do with cryptocurrencies.
🧠 Let me explain it simply 👇
🧾 What is ISO 20022?
This is an international standard for exchanging financial messages, which is actively implemented by banks, central banks (including the ECB and the Fed), SWIFT and other systems.
📤 Its goal is the unification of payment data, better analytics, security and transparency.
💥 And what about cryptocurrencies?
Some crypto projects are striving to integrate into the traditional financial infrastructure.
This means that they either already support ISO 20022 or are working on compatibility so that banks can work with them without barriers.
🪙 TOP cryptocurrencies that support or adapt to ISO 20022:
XDC Network XDC ✅ Compatible
Quant QNT ⚙️ Partial
Algorand ALGO ⚙️ Partial
IOTA IOTA ⚙️ Partial
🔸 Bitcoin (BTC) and Ethereum (ETH) are currently not compatible with ISO 20022 and are not focused on integration with the banking system.
🤔 Why is this needed?
✅ Fast and cheap transactions
✅ Legal integration with banks
✅ Prospects for CBDC (state digital currencies)
✅ Long-term adaptation to global financial standards
📌 Conclusion:
Cryptocurrencies that comply with ISO 20022 have a higher chance of mass adoption in the global economy.
This is not a “hype,” but a gradual step towards the merger of crypto and banks.