ISO 20022 Compliant Coins are officially the talk of the town.
What's exactly going on? How do they impact crypto? Are they a GAME-CHANGER?
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What's exactly going on? How do they impact crypto? Are they a GAME-CHANGER?
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The cryptocurrency industry has seen rapid growth and development in recent years. As a result, regulators, banks, and payment processors are beginning to see the value in increased oversight and standardization.
- ISO 20022 is a financial messaging international standard developed by the International Organization for Standardization (ISO).
- It is a universal language for financial messaging that financial institutions use to communicate in a secure & standardized manner. ๐ฒ
- It is a universal language for financial messaging that financial institutions use to communicate in a secure & standardized manner. ๐ฒ
- It was created with the goal of increasing the efficiency and accuracy of financial transactions, lowering operational costs & making transactions more transparent. ๐
- It is based on the XML data format and also used to exchange financial transaction information. ๐ฑ
- It is based on the XML data format and also used to exchange financial transaction information. ๐ฑ
How Will ISO 20022 Impact the Crypto Industry?
- The adoption of these standards will make it easier for crypto exchanges and other businesses to send & receive payments in a secure & reliable manner. Also allowing them to better manage their finances & comply with regulations.
- The adoption of these standards will make it easier for crypto exchanges and other businesses to send & receive payments in a secure & reliable manner. Also allowing them to better manage their finances & comply with regulations.
- Banks and payment networks will be able to provide more comprehensive services to cryptocurrency users by utilizing ISO 20022.
- Furthermore, the adoption of ISO 20022 will facilitate the development of new cryptocurrency-related products and services.
- Furthermore, the adoption of ISO 20022 will facilitate the development of new cryptocurrency-related products and services.
The Advantages of Compliance ๐ค๐ป
- Greater visibility & trust among investors and traders. ๐
- Increased security for storage and transactions.
- Increased liquidity for trading operations.
- Lower risk of fraudulent activity. ๐
- Increased customer trust in the coin. ๐
- Greater visibility & trust among investors and traders. ๐
- Increased security for storage and transactions.
- Increased liquidity for trading operations.
- Lower risk of fraudulent activity. ๐
- Increased customer trust in the coin. ๐
These 8 coins and tokens have been certified as ISO 20022-compliant:
1. Quant (QNT)
2. Ripple (XRP)
3. Stellar (XLM)
4. Hedera (HBAR)
5. IOTA (MIOTA)
6. XDC Network (XDC)
7. Algorand (ALGO)
8. Cardano (ADA)
1. Quant (QNT)
2. Ripple (XRP)
3. Stellar (XLM)
4. Hedera (HBAR)
5. IOTA (MIOTA)
6. XDC Network (XDC)
7. Algorand (ALGO)
8. Cardano (ADA)
In 2023, ISO 20022 will undergo several changes. The ISO 20022 Crypto List Committee will revise the criteria for inclusion on the list and expand the list of compliant coins. Furthermore, the organization will make changes to improve security & reduce fraudulent activity.
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