- Ripple (XRP), Cardano (ADA), Stellar (XLM), and a handful of other digital currencies have made it into the ISO 20022 Crypto-list.
- As market players have collectively asserted, the digital currencies on this list are poised to record an upsurge in price in the long term.
A handful of digital currencies have made it into the ISO 20022 Crypto-list. These crypto assets are likely to outperform their counterparts in the future, courtesy of the new development.
ISO 20022 defines itself as an open standard for global financial information. The seeks to provide the industry with consistent, rich, and structured data. This data can be used for every kind of financial business transaction. ISO 20022 is a multi part International Standard prepared by ISO Technical Committee TC68 Financial Services.
Notably, the ISO 20022 has a crypto-list that is made up of a selection of digital assets and tokens. They all compose eight of the current standards of the International Organization for Standardization (ISO).
Digital currencies that made the ISO 20022 Crypto-list include Verge (XVG), Algorand (ALGO), Cardano (ADA). Other assets like XDC Network (XDC), IOTA (MIOTA), Hedera (HBAR), Stellar (XLM), Ripple (XRP) and Quant (QNT).
The cryptocurrency market has responded positively to this new development. A lot of market players are convinced that the list would come with perks for the selected digital currencies. Sentiments expressed by a handful of altcoin holders reveal that the selected cryptocurrencies are poised to surge significantly in the long term.
ISO 20222 amplified by other leading Finance figures
It will come as no surprise, if the ISO 20022 Crypto-list boosts the price value of the aforementioned tokens. The ISO20022 is already highly regarded as a credible financial platform with global recognition from leading institutions.
It is worth noting that the ISO20022 is not just limited to the cryptocurrency industry. Its impact is so significant that prominent figures across different disciplines are educating market players on its potential impact.
Day 2 of @EuroFinance International Treasury Management event in Barcelona and we’ve just heard from Stephen Lindsay, Päivi Paananen , Bruno Mellado, and Stefan Windisch on how corporate treasurers can benefit by moving to #ISO20022 within payments.
“We are helping banks to… pic.twitter.com/A3Lq3DUlpA
— Swift (@swiftcommunity) September 28, 2023
The EuroFinance International Treasury Management event kicked off on the 27th of September in Barcelona.
On day two of the event, officials like Stephen Lindsay, Päivi Paananen, Bruno Mellado, and Stefan Windisch revealed how corporate treasurers can benefit by moving to ISO20022 within payments.
Stephen Lindsay, the Business Lead at the Society for Worldwide Interbank Financial Telecommunication, (SWIFT) explains that SWIFT is working towards serving banks, by offering them with standardised ISO 20022-based services.
He goes on to reveal that in the future, SWIFT is hoping to increase the amount of services offered by banks for cross-border payments.
“We are helping banks to provide standardised ISO 20022-based services to their corporate customers, including payment initiation, tracking, and reporting. We aim to raise the level of service that banks provide for cross-border payments across the board,” Stephen Lindsay asserted.
