CandleFocus BitBoy Insists ISO 20022 Was Designed for XRP
2024-09-06
Author: Content Editor
Crypto YouTuber Ben "BitBoy" Armstrong claims that the global standard for payments-related financial information, ISO 20022, was developed with XRP in mind. However, the host of the "To The Lifeboats" podcast, Sam Dodson, argues that there is no such thing as an "ISO 20022 Coin," and ISO 20022 is a messaging standard for financial transactions rather than a classification system for cryptocurrencies. Armstrong agrees with this explanation but maintains that ISO 20022 was built to align with XRP's technology. While ISO 20022 was developed for traditional financial institutions, Ripple, the company behind XRP, became a member in 2020, allowing their clients to connect with global financial institutions through the same messaging standard. However, XRP itself is not obligated to comply with the ISO 20022 standard, according to Ripple CTO David Schwartz.
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