What is ISO 20022?. ISO 20022 is a global standard for financial messaging that defines rich data formats for payments, securities, and trade.
How it works
Banks and payment systems adopt common schemas so messages carry more structured details across borders.
Why it matters
It improves interoperability between traditional finance and tokenized payments.
Common pitfalls
- Assuming ISO compliance equals crypto integration
- Confusing messaging standards with settlement rails
- Ignoring migration timelines by region
Quick example
A bank sends a richer cross‑border payment message that reduces manual repairs.
See also
- CBDC
- Tokenization
- Interoperability
TL;DR: What is ISO 20022? defined in plain English with practical next steps.
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