Bank for International Settlements Makes ISO 20022 Adoption Claim For XRP and XLM

CoinMarketCap11-22 07:29

The integration of ISO 20022 as a global messaging standard for financial transactions is a key milestone in the modernization of cross-border payments. As the Bank for International Settlements (BIS)...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBank for International Settlements Makes ISO 20022 Adoption Claim For XRP and XLM\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 07:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/673fc268f343be776ca5d051/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The integration of ISO 20022 as a global messaging standard for financial transactions is a key milestone in the modernization of cross-border payments.\nAs the Bank for International Settlements (BIS)...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/673fc268f343be776ca5d051/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BIS","symbol_name":"ProShares UltraShort Nasdaq Biotechnology","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/673fc268f343be776ca5d051/","article_id":"2485473871","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/3c5f317f00a64633950eddbec6b34f4f.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485473871","pubTimestamp":1732231783,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"The integration of ISO 20022 as a global messaging standard for financial transactions is a key milestone in the modernization of cross-border payments.As the Bank for International Settlements  notes, ISO 20022 can also serve as a standardized protocol for digital asset transactions, signaling a broader convergence of traditional finance with blockchain technologies.This article examines the implications of ISO 20022 for digital assets, particularly XRP and XLM, alongside insights from blockchain researchers and financial experts.Bank for International Settlements: “ISO 20022 can be adopted as standardized messaging protocol FOR DIGITAL ASSET TRANSACTIONS.”The alignment of ISO 20022 with digital assets is particularly significant. By embedding transaction details into standardized messages, the protocol can support innovative financial applications, including blockchain-based payment systems. XRP and XLM, two prominent digital assets, have been highlighted for their utility in facilit","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BIS":"ProShares UltraShort Nasdaq Biotechnology","ISO":"IsoPlexis Corp.","BK4121":"生命科学工具和服务"},"translate_title":"国际清算银行宣布XRP和XLM采用ISO 20022","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BIS":1,"ISO":1},"content_text":"The integration of ISO 20022 as a global messaging standard for financial transactions is a key milestone in the modernization of cross-border payments.\nAs the Bank for International Settlements (BIS) notes, ISO 20022 can also serve as a standardized protocol for digital asset transactions, signaling a broader convergence of traditional finance with blockchain technologies.\nThis article examines the implications of ISO 20022 for digital assets, particularly XRP and XLM, alongside insights from blockchain researchers and financial experts.\n\nBank for International Settlements: “ISO 20022 can be adopted as standardized messaging protocol FOR DIGITAL ASSET TRANSACTIONS.”\nXRPXLMXDCALGOHBARQNTADA\nDOCUMENTED. pic.twitter.com/ITe2n866tC\n— SMQKE (@SMQKEDQG) November 17, 2024\n\nUnderstanding ISO 20022 and Its Significance\nISO 20022 offers a unified, structured framework for transmitting financial data. Its XML-based messaging standard enhances compatibility and comprehensiveness, supporting the seamless exchange of information across financial systems.\nSWIFT, the global messaging network, is transitioning from its legacy MT formats to ISO 20022 by 2025. This adoption promises greater interoperability, enriched data fields, and real-time processing capabilities for cross-border payments.\nThe alignment of ISO 20022 with digital assets is particularly significant. By embedding transaction details into standardized messages, the protocol can support innovative financial applications, including blockchain-based payment systems. XRP and XLM, two prominent digital assets, have been highlighted for their utility in facilitating cost-effective and efficient cross-border payments.\nXRP and XLM in the ISO 20022 Landscape\nXRP and XLM are well-positioned to benefit from ISO 20022’s adoption due to their shared focus on enabling fast, low-cost international payments. XRP, leveraging Ripple’s On-Demand Liquidity (ODL) service, is designed to optimize cross-border transactions by providing liquidity through its decentralized ledger.\nSimilarly, Stellar’s XLM enables peer-to-peer and institutional payments, prioritizing accessibility for underbanked regions.\nThe potential of these assets to align with ISO 20022 is underscored by their ability to integrate messaging standards into blockchain networks. This capability ensures compliance with evolving financial regulations and enhances interoperability with traditional systems.\n\nWe are on twitter, follow us to connect with us :- @TimesTabloid1\n— TimesTabloid (@TimesTabloid1) July 15, 2023\n\nBroader Implications and Industry Commentary\nOther digital assets, including XDC, ALGO, HBAR, QNT, and ADA, are candidates for ISO 20022 compatibility. These assets exhibit distinct features that align with the protocol’s goals, such as scalability, security, and support for tokenized assets.\nCommentary from blockchain researchers highlights the exclusion of certain digital assets from discussions around ISO 20022 adoption. For example, an X user, NullPackets, noted the lack of acknowledgment for digital assets actively involved in SWIFT’s blockchain mapping trials, set to go live in 2025.\nMeanwhile, Chainlink ($LINK) has been recognized for its collaboration with SWIFT, further underscoring the diverse applications of blockchain within financial messaging.\nThe adoption of ISO 20022 represents a transformative development for traditional finance and the blockchain industry. Digital assets such as XRP and XLM, with their focus on cross-border payment efficiency, are poised to play a pivotal role in this transition.\nAs financial institutions continue to adopt ISO 20022, the integration of blockchain-based solutions will likely accelerate, fostering greater interoperability and innovation across the global financial ecosystem.\nDisclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.\nFollow us on Twitter, Facebook, Telegram, and Google News\nThe post Bank for International Settlements Makes ISO 20022 Adoption Claim For XRP and XLM appeared first on Times Tabloid.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485473871"}