ISO 20022

ISO 20022 is a global financial standard for structured data in various transactions. The International Monetary Fund (IMF) promotes international monetary cooperation and poverty reduction, while the World Bank Group (WBG) aids developing countries through financial support and policy guidance.

Ralph Fontones

10/10/20232 min read

a wallet with bitcoins falling out of it
a wallet with bitcoins falling out of it

ISO 20022 -It is an open global standard for financial information that provides consistent, rich, and structured data that can be used for every kind of financial business transaction. It covers financial information sent back and forth between financial institutions and corporates, including payment transactions, securities trading, credit and debit card transactions, and other financial information.

The ISO 20022 standard is an open global standard for financial information that provides consistent, rich, and structured data that can be used for every kind of financial business transaction. It covers financial information sent back and forth between financial institutions and corporates, including payment transactions, securities trading, credit and debit card transactions, and other financial information.

The International Monetary Fund (IMF) is an international organization that aims to promote international monetary cooperation, facilitate international trade, foster sustainable economic growth, and reduce poverty around the world. The World Bank Group (WBG) is a global institution that provides loans, grants, policy advice, and technical assistance to developing countries around the world.

ISO 20022 Crypto List

The International Organization for Standardization (ISO) has developed a new protocol called ISO 20022, which provides a secure and standardized way of exchanging financial messages between organizations within the payment industry. The ISO 20022 Crypto List is a collection of compliant digital coins and tokens that satisfy the standards of the International Organization for Standardization (ISO) standards 20022. The list is expected to expand in 2023, and the criteria for inclusion will be revised.

As of October 2023, there are several cryptocurrencies that are ISO 20022-compliant, including:

  1. Verge (XVG): A privacy-focused cryptocurrency that offers fast and secure transactions.

  2. Quant (QNT): A blockchain-based platform that enables interoperability between different networks.

  3. Algorand (ALGO): A blockchain platform that aims to provide a secure and scalable infrastructure for decentralized applications.

  4. Stellar (XLM): A blockchain-based platform that enables fast and low-cost cross-border payments.

  5. Hedera HashGraph (HBAR): A decentralized public network that aims to provide fast and secure transactions.

  6. IOTA (MIOTA): A distributed ledger technology that enables secure data transfer between devices on the Internet of Things (IoT).

  7. XDC Network (XDC): A blockchain-based platform that aims to provide fast and secure transactions for enterprises.

It is worth noting that the ISO 20022 standard is still evolving, and it is difficult to predict how it will affect the global economy in the long run.

Recommended Videos/Links:

ISO 20022: The New Age of Payments & What it Means for Digital Currency

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