What Is ISO 20022 And Why Is Ixinium (XXA) An ISO 20022 Standard Cryptocurrency?
ISO 20022 is?an international standard for exchanging electronic messages between financial institutions via SWIFT, the Society for Worldwide Interbank Financial Telecommunication, the main financial messaging network used by banks across the world.
Why Is Ixinium (XXA) An ISO 20022 Standard Cryptocurrency?
Stellar Lumens (XLM) is one of the verifiable ISO 20022-compliant digital assets. Ixinium (XXA) is built on the Stellar network and is therefore an ISO 20022 standard cryptocurrency.
Stellar Lumens (XLM) is designed for the development of central bank digital currencies (CBDCs). It is also specifically designed to act as a settlement layer for cross-currency conversions.
What Is ISO 20022?
Simply put, ISO 20022 is a more detailed financial messaging protocol that allows banks and financial institutions to prevent fraud and operate more easily. The ISO 20022 compliant cryptocurrencies will form the backbone of the ‘New Financial System’, replacing the 50-year-old SWIFT payment system.
A crypto that complies with the ISO 20022 standard can be approved by a central bank that enables crypto payments. ISO 20022 is going to change the way crypto is used.
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