Cryptocurrency Q&A
How will ISO 20022 change crypto?
How will ISO 20022 change crypto?
Valentina
Thu Dec 05 2024
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5 answers
1005
ISO 20022, a global financial messaging standard, is expected to significantly impact the cryptocurrency industry. By providing a standardized format for financial messages, ISO 20022 could enhance transparency, efficiency, and interoperability in crypto transactions. This may lead to improved compliance, reduced risks, and increased liquidity in the crypto market.
5 answers
CryptoKing
Fri Dec 06 2024
Cryptocurrencies possess the capability to be transmitted as data within ISO 20022 messages.
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ZenFlow
Fri Dec 06 2024
It is anticipated that future versions of ISO 20022 messages will incorporate a validation process for cryptocurrencies.
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CryptoMercenary
Fri Dec 06 2024
Currently, the transmission of cryptocurrencies in these messages does not involve any validation process.
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CryptoGuru
Fri Dec 06 2024
In contrast, traditional fiat currencies such as the Euro (EUR) and the US Dollar (USD) are already utilized within ISO 20022 messages.
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CryptoVisionary
Fri Dec 06 2024
These fiat currencies undergo validation against the ISO 4217 standard, ensuring their authenticity and accuracy.
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