In a recent low post His official account XThe Fed confirmed that migration to the ISO 20022 message sending standard has been completed. The message may sound highly technically, but XRP supporters and payment analysts perceive this as a silent milestone that can change the way of moving through money. Interestingly, this development seems to be the first step Placing ripple next to it Giants such as Swift and BRICS Payment system.
The federal reserve confirms the migration of ISO 20022
The last announcement of the federal reserve could have been for many years, but it can become one of the most critical updates in the introduction of cryptocurrencies, such as XRP to the world of global finances. In its announcement, the FED made everything up, simply stating: “ISO® 20022 migration is complete! Time to start studying possibilities.”
One XRP commentator, known as 589Bull, described the update as The world is changing because it places American payment infrastructure in accordance with global rails, such as Swift, Ripplenet, BRICS initiatives and central banks. His words were not about fireworks or great celebrations, but about a silent line in the update of the federal reserve, which could have historical consequences for the way money and digital value around the world move.
ISO 20022 is an international standard of messages designed to improve the performance of global payments. According to The Federal Reserve site, the universality of the ISO 20022 standard allows for greater industry partnership and cooperation than working in silos.
The ISO 20022 standard allows you to transfer more information, such as compliance details, contextual metadata, and even tokenized value. It reduces friction in cross -border transactions, which allows financial institutions to communicate better.
The completion of this migration by the US Federal Reserve introduces the infrastructure of payments for synchronization with most of the rest of the world, where SWIFT has already accepted ISO 20022 as a standard since 2023.
What does this mean for ripple?
Ripple has long been a champion of ISO 20022 adoption. The company began to adapt its message standards to the protocol when Ripple joined ISO 20022 Registration Management Group in 2020, positioning RIPPLenet for integration after conducting a wider financial world. As 589bull noted, the pipe was laid many years ago, and now the water is to roar through it.
Jake Claver, a popular cryptographic commentator on x, I noticed this recently XRP prioritized the most of the overlooked industry: ISO 20022 compatibility. This decision is now paid because the networks are processed by over 434 billion dollars of transactions each day.
In the case of XRP supporters, this increases the weight to the Ripple vision to on board a huge part Swift customer base. It also adds the importance of one of the most ambitious narratives in the cryptocurrency space: the idea that the idea XRP can one day trade $ 1,000. If Ripplenet is widely accepted by banks, governments, and other international institutionsThe size of the value directed by XRP can theoretically support its raise to such a price.
At the time of writing, XRP trades $ 2.87, which is a 1.1% decrease in the last 24 hours.
A distinguished picture from Getty Images, chart from TradingView.com
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