XRP Becomes Top Beneficiary of ISO 20022 Transition..."No More Obsolete SWIFT System"

▲ XRP, SWIFT, traditional finance, international payment/ChatGPT generated image

As the full implementation of ISO 20022, SWIFT's new international payment messaging standard, approaches, the roles of XRP and Ripple are once again drawing attention. One market analyst claimed that SWIFT plans to discontinue its existing unstructured messaging method by November 2026, and this change could be a significant opportunity for XRP and Ripple.

Bitcoinist reported on the 12th, citing an analysis by market analyst Cheeky Crypto, that SWIFT's transition to ISO 20022 could bring mandatory changes to the global banking system. ISO 20022 is SWIFT's new global messaging standard for cross-border payments and is scheduled for full implementation by November 2026.

Cheeky Crypto explained that SWIFT plans to eliminate its existing unstructured address system. He argued that if banks fail to meet the new standards, transactions may not be settled or processed. For this reason, major financial institutions may seek out already prepared bridge assets and infrastructure rather than building new compliant systems themselves.

He analyzed that XRP could benefit from this change, given its goal of being a global bridge asset for cross-border remittances. The existing banking system has relied on manual data entry and unstructured message structures for decades, leading to repeated transaction delays and failures. Cheeky Crypto argued that as SWIFT transitions to a new structured data-based system, institutions may consider blockchain-ready solutions like XRP.

According to the article, Cheeky Crypto noted that the flow of institutional funds into XRP-based products is already growing. He explained that this movement stems from the demand of companies seeking to ensure operational continuity before SWIFT discontinues its existing unstructured messaging standard. Comments from Ripple co-founder Chris Larsen were also cited. Larsen stated that the existing banking system is built on a weak foundation, and the mandatory implementation in 2026 is a trend that will sweep away anything lacking structure, validation, and compliance.

Cheeky Crypto suggested that the XRP Ledger could be presented as an alternative for the banking sector. He claimed that the XRP Ledger is designed to immediately handle the type of structured data processing that SWIFT aims to build. While traditional cross-border remittances typically take 3-5 days and incur significant hidden fees, the XRP Ledger settles transactions in approximately 3-5 seconds, with costs lower than 1 cent, he compared.

However, this analysis is primarily based on Cheeky Crypto's market outlook. Bitcoinist conveyed the perspective that SWIFT's ISO 20022 transition could be a significant variable for XRP and Ripple, but the article does not include confirmed details that major banks are actually adopting the XRP Ledger.

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