Cardano founder Charles Hoskinson has reaffirmed his support for ISO 20022, describing it as a key enabler of open banking and a necessary step toward integrating traditional finance (TradFi) with decentralized finance (DeFi).
In a post on X, Hoskinson noted that Cardano (ADA) stands alongside other ISO 20022-aligned tokens such as XRP (XRP), Hedera (HBAR), and Algorand (ALGO), highlighting the growing importance of compliance-ready blockchain infrastructure. These tokens are positioned as key beneficiaries of the ISO 20022 standard, establishing them as core infrastructure for modern payment systems.
In a follow-up commentary, the Cardano founder emphasized that the Cardano ecosystem team fully supports the ISO 20022 financial messaging standard.
ISO 20022 support is essential to open banking and combining the tradFi and DeFi worlds. Ada is Glad to be holding the line with XRP, HBAR, ALGO, and others pic.twitter.com/9uZX4xgeQ3
— Charles Hoskinson (@IOHK_Charles) November 10, 2025
Despite Hoskinson’s comments, Zach Rynes clarified that no cryptocurrency currently meets the full ISO 20022 compliance standard. He explained that while several networks aspire to compatibility, none have achieved formal adherence to it.
Global Push Toward a Unified Financial Messaging Standard
Developed by the Geneva-based International Organization for Standardization, ISO 20022 serves as a universal data format designed to replace legacy text-based financial systems with richer, structured information. The protocol enables faster and more accurate data exchange across banks, payment networks, and blockchain-based settlement systems.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has set November 22 as the final deadline for financial institutions to migrate to the ISO 20022 Cross-Border Payments and Reporting Plus (CBPR+) standard.
The integration of ISO 20022 facilitates more efficient cross-border payments, securities settlements, and regulatory reporting, offering enhanced transparency and automation. Its structured data model supports tokenized assets and blockchain interoperability, key elements driving the next generation of financial systems.
ISO 20022 Rollout Faces Final Countdown
After several delays, SWIFT has confirmed that no further extensions will be granted. Initially set for November 2021, the migration was delayed multiple times due to banks’ outdated infrastructure and complex upgrade requirements. With just under two weeks remaining, institutions that fail to comply risk losing access to critical cross-border payment channels.
To bridge the transition, SWIFT introduced “in-flow translation” tools and the Transaction Manager system to ensure compatibility between ISO-enabled and legacy users. These features allow transactions to continue even as some banks complete internal system overhauls.
The CoinRemark Team
Evans Kelvin
