XRP Poised to Capture SWIFT's Volume Amid ISO 20022 Transition

Ripple's XRP is well-positioned to benefit from SWIFT's gradual transition to ISO 20022, a global messaging standard for financial transactions. The rising compatibility between Distributed Ledger Technology (DLT) and SWIFT's ISO 20022 has put XRP back in focus, as it is coded to be compliant with this standard.

ISO 20022 is an established international standard that enables richer data and quicker cross-border transactions. Ripple's On-Demand Liquidity (ODL) technology allows major banks to swap between XRP and local currencies seamlessly, solving the immediate cross-border payment challenge for SWIFT-compliant banks.

Ripple's CEO Brad Garlinghouse once predicted that XRP could capture 14% of SWIFT's $155 trillion annualized trading volume in five years. If this happens, it could put more of the traditional cross-chain transaction regime on-chain and potentially trim Bitcoin's market dominance if it sees less compliance than XRP.