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On November 22, 2025, SWIFT, a key player in global financial payments with over 11,000 connected institutions, will transition from its coexistence period for payment instructions to fully adopting the ISO 20022 — a standard for unified financial messaging.

And there is the crypto adoption twist: ISO 20022 is an open standard that can be used by both traditional financial institutions and blockchain industry players. The list of ISO 20022-compliant blockchain projects already contains several major networks.

What is ISO 20022?

ISO 20022 is an open global standard introducing a common financial message framework transforming the payments industry. It is a flexible unified standard enabling interoperability between financial institutions. Endorsed by the G20 and CPMI, ISO 20022 adoption is considered a major step towards faster, more efficient payments.

ISO 20022 key feature: Unified structured basis

Unlike older formats, ISO 20022 is powered by XML or ASN.1 schemas. This unified, structured framework enables interoperable communication between financial institutions, their market infrastructures, and their end-users. ISO 20022 provides a consistent, data-rich, and structured messaging infrastructure applicable to every kind of financial business transaction.

Main opportunities:

• Interoperability: A unified framework for financial messaging enables interoperable interaction.
• Extended data handling: A structural, markup-based approach allows richer data attachments.
• Transparency: Standard message format and extensive data attachments enhance transparency and traceability.
• Data processing automation: Unified markup and structured data streamline data processing automation.
• End-to-end analysis: Enhanced transparency and a unified standard facilitate end-to-end analysis.
• Faster transaction settlement speed: These features can significantly reduce transaction processing times.
• Widespread adoption: As an open standard, ISO 20022 potentially covers all business domains and end-to-end processes, facilitating new services and straight-through processing.

Backward compatibility: ISO 20022-compliant blockchains

While crypto mass adoption seems to be in its ongoing stage, ISO 20022 shows that adoption is a two-way traffic process. TradFi showed its interest in crypto via ETFs, crypto reserve initiatives, and stablecoin regulation focus, while the crypto industry moves towards ISO 20022 compliance. You’ll likely find several familiar project names in the list of ISO 20022-aligned blockchain projects, among which are:

• Ripple
• Stellar
• Quant
• Hedera
• Algorand

Among the most straightforward theoretical benefits of ISO 20022 compliance for blockchain projects can be utility, liquidity, and simplified interaction with TradFi institutions, especially in the context of current stablecoin-related focus.

How to become ISO 20022-compliant?

To become aligned with ISO 20022, the project needs to fulfill an official ISO 20022 compliance checklist which outlines the requirements. As with any new standard incorporation, adopting a new technology domain to an existing system should be performed with security considerations in mind. A professional guidance and external audit is usually recommended. The goal is to improve the system and expand the functionality properly without posing any risks.

Closing thoughts: The adoption twist

High transaction speed, transparency and interoperability that ISO 20022 aims to bring to traditional finance are initially blockchain-related properties. Given TradFi historical dominance, high focus on security measures, and worldwide adoption, the twist is whether ISO 20022 could pose a challenge to the crypto industry.

Nevertheless, ISO 20022 standard appears to be bringing the traditional finance and crypto industries closer to the common ground, but what that “common ground” will look like — only time will tell. And history shows that the market, especially in crypto, is full of surprises.

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About SmartState

Launched in 2019 and incorporated in Dubai, SmartState is an independent Web3 security company providing top-notch external security audits and enterprise level blockchain security services.

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Disclaimer

Always DYOR. This article is for informational purposes only, does not constitute legal, financial, investment advice and / or professional advice, and we are not responsible for any decisions based on our analysis or recommendations. Always consult with a qualified security expert and conduct thorough testing before deploying smart contracts.