XRP News Today: SWIFT's Transition to ISO 20022: Laying the Foundation for a Blockchain-Powered Tomorrow

On November 22, 2025, SWIFT achieved a significant milestone in its worldwide transition to the ISO 20022 standard, officially discontinuing the legacy MT (Message Type) format. This change represents a major evolution in international financial communications,

and setting the stage for greater integration of blockchain technology within established banking frameworks. With close to 200 market infrastructure projects now utilizing ISO 20022, of global payment systems, offering improved interoperability and operational performance.

For almost five decades, SWIFT’s MT format functioned as the common language for global finance, facilitating transactions through its strict, fixed-field setup. Since its introduction in 1977, MT enabled efficient alphanumeric messaging between diverse banking platforms, supporting the expansion of international commerce. However,

connections—proved inadequate for today’s requirements for detailed transaction information and regulatory adherence. By the early 2000s, the emergence of fragmented supplementary messaging systems threatened SWIFT’s unity, leading to the adoption of ISO 20022 in 2004. Unlike MT, ISO 20022’s adaptable, XML-based framework supports customizable fields, and smooth compatibility with new technologies.

This migration has accelerated the use of blockchain, with SWIFT intentionally aligning ISO 20022 with protocols such as Ripple’s Interledger Protocol (ILP) and Stellar’s cross-border payment solutions.

for direct integration with SWIFT, utilizes as a bridging currency, facilitating quicker settlements on the XRP Ledger. Likewise, and international transfers demonstrate how ISO 20022 connects conventional and decentralized finance. Nine digital currencies—including XRP, , and HBAR—already meet ISO 20022 standards, positioning them for use in centralized payment systems and central digital currency (CBDC) networks.

The majority of banks and financial organizations have finalized their migrations, though some obstacles remain.

in Switzerland, for instance, used Smartstream’s Corona MX platform to complete its transition ahead of SWIFT’s deadline, improving reconciliation for multi-currency transactions. On the other hand, risks due to outdated system incompatibilities. Experts caution that internal systems, such as those for customer reporting, must also evolve to ISO 20022 to sustain automation and prevent manual processing delays.

The advantages of ISO 20022 go beyond technical enhancements.

—for example, dividing address information into “street name” and “country code”—the standard bolsters anti-money laundering (AML) and know-your-customer (KYC) measures. It also lowers the rate of payment errors, with that 1–3% of domestic payments fail because of formatting mistakes, according to Datos Insights. observes that ISO 20022’s clear data fields greatly enhance compliance and fraud detection.

Looking forward, the U.S. Federal Reserve’s planned adoption of ISO 20022 in July 2025 and the SEPA region’s full implementation highlight a worldwide movement toward unified, data-rich payment systems. As SWIFT completes its transition, the financial sector is poised for an environment where blockchain, CBDCs, and traditional systems operate together smoothly. For banks, the next challenge is not just compliance, but

to drive innovation—whether that means improving customer service, advancing fraud prevention, or integrating digital assets into their main operations.