🚨 ISO 20022 goes into effect on July 14 - but what does that mean for #XRP?
Everyone is shouting '$XRP is compatible with ISO 20022!' - but most don't even understand what that really means.
1/ What is ISO 20022? 🧐
* It's not a currency.
* It's not a blockchain.
It is a global messaging standard that allows financial institutions to communicate in a unified, data-rich format.
Think of it as an upgrade from the global fax payment system to encrypted email. 📡
2/ Why is July 14 important? 🗓️
Because the US Fedwire Funds Service, which settles trillions in payments, is finally migrating to ISO 20022. This aligns the US with Europe, SWIFT, and the rest of the modern financial system. It's a big deal.
3/ Join RippleNet 💧
RippleNet is Ripple's enterprise-grade network for banks and payment providers. It's fast. It's global. It's already ready for ISO 20022 ✅
This means that RippleNet can directly integrate with the updated banking infrastructure that will go live on July 14.
4/ So, where does XRP fit in? ⏩
Let's clarify this:
🚫 XRP is not compatible with ISO 20022 - because crypto tokens do not use message formats.
✅ RippleNet is compatible with ISO 20022 - and #XRP is used within RippleNet as a bridge asset.
That's the difference.
5/ Why the confusion? 🤔
Because crypto Twitter loves buzzwords. 🤷♂️
Saying that 'XRP is compatible with ISO 20022' seems optimistic, but it's misleading.
ISO 20022 = a messaging upgrade
RippleNet = messaging system
#XRP = asset used within this system
It's like saying 'gasoline is suitable for highways' — it doesn't make sense.
6/ So is XRP affected by ISO 20022? 🚀
For sure. 💯 Here's why:
When global payment systems switch to ISO 20022, systems like RippleNet will be able to integrate more easily.
Adoption of RippleNet = more corridors
More corridors = more utility #XRP
More XRP utility = more demand 💸
7/ TL;DR 📋
🔹 ISO 20022 = upgrade of financial messages
🔹 RippleNet = compatible with ISO 20022
🔹 XRP = bridge asset used within RippleNet
🔹 July 14 = US joins the modern financial system
The tracks are being laid. #XRP is ready.
ISO 20022 is the silent foundation.
XRP is the fuel for the rocket. 🚀
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