👆🚨 ISO 20022 comes into effect on July 14, but what does that mean for #XRP?

Everyone is shouting "!$XRP complies with ISO 20022!", but most people don't even understand what that really means.

Let's break it down 🧵👇

1/ What is ISO 20022? 🧐

🪙 It's not a currency.

⛓️‍ It's not a blockchain.

It's a global messaging standard that allows financial institutions to communicate in a unified, data-rich format.

Think of it as the upgrade from the world's payment system from fax to encrypted email. 📡

2/ Why is July 14 important? 🗓️

Because the U.S. Fedwire Funds Service, which settles trillions of dollars in payments, is finally migrating to the ISO 20022 standard.

This puts the U.S. on par with Europe, SWIFT, and the rest of the modern financial system.

It's a significant achievement. 💥

3/ Discover RippleNet 💧🥅

RippleNet is Ripple's enterprise network for banks and payment providers.

It's fast.

It's global.

It's already ready for the ISO 20022 standard ✅

This means RippleNet can directly integrate with the upgraded banking infrastructure that will be available on July 14.

4/ So, where does XRP fit in? ⏩

Let's clarify this:

🚫 $XRP does not comply with the ISO 20022 standard because cryptocurrency tokens do not use messaging formats.

✅ RippleNet complies with the ISO 20022 standard and #XRP is used within RippleNet as a bridge asset.

That's the difference.

5/ Why the confusion? 🤔

Because in cryptocurrency Twitter we love buzzwords. 🤷‍♂️

Saying "$XRP complies with the ISO 20022 standard" sounds optimistic, but it's misleading.

ISO 20022 = a messaging upgrade

RippleNet = messaging system

#XRP = asset used within that system

It's like saying "gasoline complies with the ISO 20022 standard": it makes no sense.

6/ So, does ISO 20022 affect $XRP? 🚀

Of course. 💯