The Payment Gateway: ISO 20022 Cryptocurrency

By Hirose Yamasaki | Hirose Yamasaki | 14 Apr 2023

Hi cryptorians

Well, to make it simple to explain, I will using simple concept of 4 Wives and 1 Husband (4W 1H).

Let's start:

1. What is the ISO 20022

ISO 20022 is international protocol that provides secure and standardized way of exchanging messages between organization of the financial industry.

2. Why is the ISO 20022

Financial industry always looking to advanced the technologies in order to keep up with the increasing customer demand. Current process are still need to evolve.

3. When is the ISO 20022

The target date for full implementation of the ISO 20022 is in the year of 2025.

6815ce4fb399350e5e3eb99a086043f4a17591d19e6046ff23e837a3ccd10cec.png

4. Who is the ISO 20022

As per current status, there are eights cryptocurrency that are certified as ISO20022 compliance:

Quant (QNT)
Ripple (XRP)
Stellar (XLM)
Hedera (HBAR)
IOTA (MIOTA)
XDC Network (XDC)
Algorand (ALGO)
Cardano (ADA)

4. How is the ISO 20022

A crypto that complies with the ISO 20022 standard could be approved by a centralized bank that enables crypto payments.

CONCLUSION

I am accumulating these coins, I am trusting the International Standard Organization (ISO) that already setting a lot of standard for worldwide usage, this time got no different, the standard for global payments!

That's it!