ISO 20022 March 2025 Are You Ready?
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Written by fastnickel

December 16, 2024

The mandatory switch to ISO 20022 compliance for U.S. banks on March 10, 2025, means that banks using the SWIFT network will adopt the ISO 20022 messaging standard for financial communications, such as payments and transactions. However, this change does not directly mandate the use of ISO 20022-compliant cryptocurrencies for transfers.

Key Points to Consider:

ISO 20022 Standard:

  • It is a global standard for financial messaging, designed to improve data quality, efficiency, and interoperability in financial systems.
  • The standard applies to how banks and financial institutions format and exchange data, not necessarily to the type of asset (e.g., fiat or cryptocurrency) being transferred.

Bank-to-Bank Transfers via SWIFT:

  • SWIFT is transitioning its messaging to ISO 20022 to enhance data processing capabilities.
  • Transfers will still predominantly involve fiat currencies, unless explicitly arranged otherwise.

Role of ISO 20022-Compliant Cryptocurrencies:

  • Some cryptocurrencies, such as Quant (QNT), XRP (Ripple), XDC (XDC Network), and Algorand (ALGO), are designed to align with ISO 20022 standards.
  • While these cryptocurrencies are compatible with ISO 20022 messaging, their use in SWIFT transactions would depend on banks and institutions integrating digital assets into their workflows, which is not yet the default.

Future Implications:

  • ISO 20022 compliance lays the groundwork for smoother integration of digital assets (including cryptocurrencies) into traditional banking systems.
  • However, whether banks will widely adopt ISO 20022-compliant cryptocurrencies for cross-border transactions via SWIFT remains uncertain, as it would require regulatory clarity, infrastructure upgrades, and market demand.

In summary, the switch to ISO 20022 does not automatically mean cryptocurrencies will be used for SWIFT transfers, but it does pave the way for potential future integration of digital assets into traditional financial systems.

Maple Finance and Maple (MPL) are two distinct projects in the decentralized finance (DeFi) space, each with its own characteristics and purposes:

Maple Finance (SYRUP): Purpose: Maple Finance is a decentralized finance protocol designed to provide decentralized lending services. It allows lenders (providers of capital) to earn interest by lending their funds to borrowers in a secure and transparent manner.

Token: The token associated with Maple Finance is SYRUP.

Maple (MPL): Purpose: Maple (MPL) is a decentralized protocol focused on creating decentralized finance products that enable borrowing and lending in the crypto space. It aims to provide efficient and transparent lending markets for institutional and retail users.

Token: The native token of the Maple protocol is MPL.

Both projects operate within the broader DeFi ecosystem but focus on different aspects of lending and borrowing. Maple Finance (SYRUP) emphasizes decentralized lending services, while Maple (MPL) aims to build decentralized finance products catering to both institutional and retail users. The distinction lies in their specific functionalities, target audiences, and underlying protocols despite their shared focus on DeFi lending.

GEODNET: Decentralized GNSS Network – Uses a network of independently operated base stations to provide real-time corrections for high-precision positioning.

Crypto Incentives – Operators of GEODNET base stations earn rewards in the network’s native cryptocurrency for contributing geospatial data.

RTK (Real-Time Kinematic) & PPP (Precise Point Positioning) – Provides centimeter-level accuracy for GPS and other satellite navigation systems.

Blockchain-Powered – Uses blockchain technology for transparent data validation, transactions, and rewarding contributors.

Global Coverage – Aims to expand its network worldwide, enabling reliable positioning solutions in various industries.

Use Cases:

  • Autonomous Vehicles – Enables precise navigation for self-driving cars and drones.

  • Agriculture – Supports precision farming by providing accurate GPS data for machinery.

  • Surveying & Mapping – Enhances geospatial data collection with high accuracy.

  • IoT & Smart Cities – Helps power location-based services in urban environments.

GEODNET positions itself as a decentralized alternative to traditional GNSS correction services, leveraging blockchain and tokenized rewards to incentivize participation in building a global high-precision positioning network.

STORY (IP) is a blockchain-based platform designed to facilitate the tokenization, ownership, and monetization of intellectual property (IP) in the entertainment industry. It allows creators, writers, and producers to leverage decentralized technology to manage and monetize their content more efficiently.

Key Features of STORY (IP): Decentralized IP Management – Enables creators to register, track, and prove ownership of their intellectual property on the blockchain.

Tokenization of IP Rights – Allows for fractional ownership of stories, scripts, and other creative works, making it easier to fund and distribute content.

Smart Contracts for Royalties – Ensures transparent and automated royalty payments to content creators and investors.

Marketplace for Content – Connects IP owners with studios, producers, and investors, facilitating collaboration and licensing deals.

Community-Driven Development – Uses blockchain governance to allow stakeholders to participate in decision-making related to IP projects.

Use Cases:

  • Film & TV – Enables screenwriters and filmmakers to tokenize their work for funding and distribution.

  • Books & Comics – Helps authors and artists secure their rights and sell digital ownership stakes.

  • Gaming & Metaverse – Provides a framework for integrating IP into blockchain-based games and virtual experiences.

STORY (IP) aims to democratize the entertainment industry by giving independent creators more control over their work while leveraging blockchain for transparency and monetization.

Not financial advice. For educational purposes only.