Ripple, XLM, and IOTA Participation in ISO 20022 Paves Way for Potential Integration with SWIFT

Big news: Ripple (XRP), Stellar (XLM) and IOTA (IOTA) are spearheading the integration of cryptocurrencies with SWIFT. Their ready-to-use payment technology, compliance and integration with ISO 20022 paves the way for a possible integration with SWIFT.

The traditional financial sector has been apparently looking to merge with the cryptocurrency market – at least, to beef up its waning efficiency. So Ripple, Stellar and IOTA appeared to become the financial industry's frontrunning partners thanks to their ready-to-use payment technologies. Stellar and IOTA are developing the much-talked-about ISO 20022, an ISO standard for electronic data exchange between financial institutions to be adopted globally. Ripple has been a member of the group since 2020.

Ripple aims to become the leading blockchain payments company, targeting untapped markets such as the Middle East, South America and Africa, offering real-time processing of international payments. This is mainly achieved through strategic partnerships with local companies. The network ensures financial inclusion in marginalized regions, facilitates fast and low-fee international settlements, and facilitates payments.