iso 20022 cardano | BTCC Knowledge

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Is ISO 20022 a new standard?

It isn’t a new standard as real-time, high-value payment systems have already adopted ISO 20022. However, the significance of the shift will unfold over the next few years. As major currencies adopt ISO 20022 formatting, SWIFT estimates that 80% of global, high-value payments by volume will be processed through ISO 20022. 1

What is ISO 20022 financial messaging?

The ISO 20022 financial messaging standard was designed to remedy this, as a flexible framework providing an internationally agreed business message syntax, where user organizations and developers will use the same message structure, form and meaning to exchange transaction information globally. What are the benefits of ISO 20022?

Does the WEF list Cardano as a digital asset?

Cardano is listed as one of the digital assets. The WEF wouldn’t list it if it weren’t at least ISO 20022 compliant. I looked up what ISO 20022 is and kind of understand but definitely not fully. Can someone eli5 or at least explain the benefit of certification? Here is a good read about the ISO 20022 certification.

What is the co-existence window between ISO 15022 and ISO 20022?

Over the next three years there will be a co-existence window where both ISO 15022 and ISO 20022 message standards will run. By 2025 ISO 20022 will be the universal standard for high, or large-value payments systems of all reserve currencies.