CandleFocus Ripple Compliance with ISO 20022 Could Drive XRP Integration Into Traditional Financial Systems
2024-10-10
Author: Content Editor
This article discusses the significance of ISO 20022, a messaging standard for financial transactions, and its potential impact on XRP, the cryptocurrency associated with Ripple. While XRP itself is not ISO 20022-compliant, Ripple's involvement with the messaging standard could lead to increased adoption of XRP among ISO 20022-compliant banks and financial institutions. XRP's utility in cross-border payments through Ripple's payment solution, On-Demand Liquidity, makes it attractive for institutions looking for faster and low-cost settlement options. However, it is important to note that XRP's compliance with ISO 20022 has been disputed, with Ripple's CTO stating that XRP has nothing to do with the messaging standard.
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