⚠️ ATTENTION !! Major upgrade in the global financial system. The ISO 20022 standard comes into effect on July 14.
Significant impact on tokens that are not compliant.
But which tokens are positively positioned?
The ISO 20022 standard can have a significant impact on cryptocurrencies, especially those used for payments and international transfers. Here are some potential consequences:
*Benefits*
- *Interoperability*: The ISO 20022 standard allows better communication between financial institutions and traditional payment networks, facilitating the integration of cryptocurrencies into global payment systems.
- *Standardization*: The ISO 20022 standard provides a common language for the exchange of financial data, reducing the risks of errors and fraud.
- *Efficiency*: The adoption of the ISO 20022 standard can improve the speed and efficiency of cryptocurrency transactions.
Affected cryptocurrencies
- XRP (XRP): Already compliant with the ISO 20022 standard, XRP is used for cross-border payments and can benefit from integration with traditional payment systems.
- #Stellar (XLM): This decentralized payment platform aims to connect banks and payment systems for faster and cheaper transactions.
- #Cardano (ADA): This layer 1 blockchain uses the ISO 20022 standard to improve interoperability with traditional financial systems.
- #IOTA (MIOTA): This platform uses the ISO 20022 standard to secure and standardize data exchanges between IoT devices.
- #Quant (QNT): This platform uses the ISO 20022 standard to enhance interoperability between blockchain networks and traditional financial systems.
- #Algorand (ALGO): This blockchain platform uses the ISO 20022 standard to enhance compatibility with traditional financial systems.
