Cardano Founder Says ADA Is Holding the Line with XRP on ISO 20022

Cardano founder Charles Hoskinson highlights the importance of ADA alignment with the global financial messaging standard ISO 20022

In a recent X post, Hoskinson shared an infographic spotlighting cryptocurrencies that could benefit from the ISO 20022 financial messaging standard. The list included leading assets such as XRP and XLM, recognized for their focus on cross-border payments

ADA stood out as the only token identified as a smart contract–capable asset. Meanwhile, other tokens, such as HBAR, ALGO, and QNT, were noted for their focus on institutional applications, scalable payment infrastructure, and interoperability solutions, respectively

Financial Institutions Embracing ISO 20022

For context, ISO 20022, often referred to as the new global banking language, is an international standard for the electronic exchange of data between financial institutions, such as banks. It defines how payment messages and related financial data are transmitted, structured, and interpreted across different systems

The financial messaging standard offers numerous benefits, such as greater interoperability between systems, more detailed transaction data, and faster settlement capabilities

Several financial institutions are already compliant with the messaging standard, including Ripple, which joined ISO 20022 in 2020.

Earlier this year, the United States Federal Reserve fully embraced ISO 20022, allowing financial institutions that utilize its FedWire Funds Service to send and receive messages using the standard

According to reports, more than 80% global financial institutions are also expected to adopt ISO 20022 before the end of this year

Hoskinson Says Cardano Fully Supports ISO 20022

Following Cardano’s inclusion among tokens poised to benefit from the ISO 20022 standard, Hoskinson remarked that ADA is proud to “hold the line” alongside other supported assets such as XRP, XLM, and HBAR, among others