Here's Why SWIFT Chooses XRP, XLM, and 6 Others

Crypto researcher SMQKE highlighted documented developments that explain the rationale behind the inclusion of eight digital assets in the migration process to ISO 20022. These cryptocurrencies have been selected due to their capacity to address persistent inefficiencies in the existing SWIFT-based international payment network.

ISO 20022 is an international messaging standard for electronic data interchange between financial institutions. The migration to this standard is reshaping how cross-border transactions are executed, and blockchain-based platforms are being positioned as key players in the upgrade.

One such example is Ripple, which in 2020 became the first member of the ISO 20022 Standards Body with a core focus on Distributed Ledger Technology. Ripple’s RippleNet platform, along with its use of blockchain APIs and the XRP token, is reported to provide faster and more cost-efficient cross-border payment capabilities compared to traditional mechanisms.

@media only screen and (min-width: 0px) and (min-height: 0px) { div[id^="wrapper-sevio-6a57f7be-8f6e-4deb-ae2c-5477f86653a5"]{width:320px;height:100px;} } @media only screen and (min-width: 728px) and (min-height: 0px) { div[id^="wrapper-sevio-6a57f7be-8f6e-4deb-ae2c-5477f86653a5"]{width:728px;height:90px;} }

Technical Justification for Crypto Inclusion

The selected cryptocurrencies—XRP, XLM, XDC, QNT, HBAR, ALGO, MIOTA, and ADA—are highlighted in the ASOBANCA publication for their technological compatibility with the ISO 20022 messaging format.

Each of these assets offers enhanced processing speed, reduced transaction fees, and improved liquidity and transparency. These attributes are crucial in resolving the historical inefficiencies in the legacy financial messaging system, particularly the slow settlement times, high operational costs, and limited visibility into fund flows.

The journal explicitly mentions Ripple as a forerunner in this integration. By leveraging its RippleNet infrastructure and XRP token, it is described as offering significant improvements in liquidity management and transaction processing.

Similar roles are noted for Stellar (XLM), XDC Network (XDC), Quant (QNT), Hedera (HBAR), Algorand (ALGO), IOTA (MIOTA), and Cardano (ADA), all of which have been reported to possess characteristics that make them fit for ISO 20022 adoption.

The Future of Financial Messaging and Digital Assets

According to the cited document, these digital assets are not arbitrarily included but are part of a broader initiative to modernize financial communications using blockchain-integrated platforms.

As ISO 20022 migration continues, the financial industry is expected to rely on these technologies to support global payment modernization. The report states that these projects will continue to gain relevance and visibility as more infrastructure transitions to the new messaging format.

The principle behind this evolution is rooted in efficiency, with ISO 20022 offering greater data structure and richer transaction content. Blockchain-based platforms are well-suited for this evolution due to their capacity for real-time data reconciliation and programmable financial logic. The use of APIs and smart contracts by many of the listed platforms reinforces their readiness for integration into next-generation financial frameworks.

Adoption and Industry Transition

The final part of SMQKE’s tweet echoes the journal’s conclusion, which states that more initiatives and projects related to these cryptocurrencies will emerge as the ISO 20022 standard is adopted across more systems.

The integration of digital assets into the ISO framework is not a speculative narrative but a documented and formalized trajectory, as evidenced by Ripple’s early involvement and subsequent official recognition of other blockchain platforms.

The document indicates that this evolution is ongoing and expected to accelerate. As international banks, clearinghouses, and financial service providers transition their messaging infrastructure to ISO 20022, the blockchain platforms identified are projected to become critical to the financial technology stack of the future.

SMQKE’s commentary underscores that these cryptocurrencies are not simply ISO-compliant in a technical sense but are actively positioned as foundational tools to support and enhance global payments infrastructure during the ISO 20022 era.

Disclaimer*: 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 advised to conduct thorough 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.*