4 MORE Altcoins Primed for a MEGA PUMP, ISO 20022 Part 2

ISO 20022 isn’t optional. Right, it’s the new global payments standard being rolled out as we speak. This is Part 2 of our 2-part series. We explore the universal language that banks and governments are switching to. That’s ISO 20022. With this system, they can process trillions of dollars every single day. This went live in the US on July 14th. 

Out of all current crypto projects, only 8 are ISO 2022 compliant. I already covered 4 altcoins in Part 1. Today I’m covering the remaining 4 altcoins. So, stay tuned to find out which altcoins they are. 

What Is ISO 20022

Here’s a quick reminder of what ISO 20022 is about. It’s a standard for electronic data interchange between financial institutions. It will be used worldwide. These are the rails that the financial world will be using. It integrates blockchain technology with TradFi. It enhances interoperability between the crypto sector and TradFi. This goes hand in hand with faster and more secure cross-border payments.

Currently, only 8 blockchain projects and their altcoins are ISO 20022 compliant. In Part 1, I already covered Cardano ($ADA), Hedera ($HBAR), Quant ($QNT), and IOTA ($IOTA). Here, in Part 2, I will cover the remaining 4 altcoins.

Ripple ($XRP)

We know Ripple and the $XRP token very well by now. I covered Ripple and $XRP quite a few times. You may want to check some of my videos. So, there’s no real need to explain Ripple. It’s all about building financial rails with TradFi. Instead, let’s dive into some reasons why Ripple can benefit from being ISO 20022 compliant.

Early mover advantage with global financial integration

Ripple was the first blockchain to join the ISO 20022 standards. That was way back in 2020. RippleNet is ready to do business. This is the enterprise-grade solution for global payments. Not to be confused with the XRP Ledger. This is the liquidity solution used within RippleNet’s On-Demand Liquidity (ODL) service. In other words, banks and financial institutions that embrace ISO 20022 can immediately plug into RippleNet. There’s no need to wait for other projects that try to catch up.

On-Demand Liquidity (ODL) eliminates pre-funding

This is where the XRP Ledger comes into play. This ledger is interoperable with other blockchains. But, most importantly, it offers fast, secure, and low-cost cross-border transactions. The sending financial institution converts its local fiat currency into $XRP. The Ledger sends this $XRP to the receiving financial institution. Once there, it converts the $XRP back into the local fiat currency. This is unique to Ripple. And it brings money transfer costs way down.

Hedera ($HBAR)

Talking about Hedera ($HBAR) must also be familiar if you follow my channel regularly. Hedera is a hashgraph and not a blockchain. This makes it faster, cheaper, and more scalable compared to a traditional blockchain. Check out some of my recent videos about Hedera.

And did I mention that Hedera’s focus is on transactions and tokenization. So, what makes Hedera stand out with its ISO 20022 compliance.

Strong institutional governance model

Hedera’s governance council includes major corporations. Think of IBM, Google, Lufthansa, and the like. You get the picture, right? This provides credibility, stability, and trust.

Enterprise-grade security and regulatory alignment

Hedera has earned the ISO 27001 certification. It is also committed to the CISA Secure by Design Pledge. This reinforces Hedera’s leadership in data security and regulatory compliance. These are high security standards. As a result, this builds confidence for regulated industries. This sets Hedera apart. No other ISO 20022 compliant crypto project has such depth of enterprise security certification. 

Real-world use cases beyond cross-border payments

Hedera does more than only payments. It has a lot more on the menu. For instance, carbon credit tracking, supply chain management, and digital identity verification. This adds versatility to Hedera, and it’s not only about cross-border payments.

Algorand ($ALGO)

Algorand ($ALGO) is a project I haven’t talked about in quite a while. It offers instant finality, high throughput, and low fees. Sounds familiar? That’s right, this is what institutions are looking for. Algorand is also energy efficient and quantum secure. So, what makes Algorand attractive in this ISO 20022 field?

Strong institutional appeal and regulatory alignment

By being ISO 20022 compliant, Algorand meets the recognized global messaging standard. This boosts its credibility with institutional players and regulators alike. Furthermore, Algorand has some interesting strategic partnerships. 

For example, with Paycode. This is a leader in biometric and offline digital payments. It looks like Algorand is future-ready for regulated financial markets. For instance, a big part of Algorand’s roadmap is its focus on CBDCs. 

Versatility for Real-World Asset tokenization and dApps

Algorand is also active in the RWA sector. Tokenization of RWAs is a priority. For example, with the mTBILL token launch in Europe. This is a tokenized certificate referencing short-term U.S. Treasury ETFs. The link to DeFi is easily made now. This is another sector in which Algorand is active. This gives it a broader set of use cases within regulated industries. Thus, setting it apart from cross-border only focussed projects.

XDC Network ($XDC)

XDC Network ($XDC) caters to Trade Finance and payment solutions. It does this with enterprise-friendly use cases in mind. So, very much on track to make full use of its ISO 20022 compliance. So, let’s take a closer look at this, since XDC doesn’t get a lot of expo rue on our channel.

Enterprise-grade backbone for Trade Finance and RWA tokenization

XDC Network is purpose-built for this. About RWAs, think of tokenized US Treasuries and private credit. With its focus on trade finance and regulated asset tokenization, XDC stands out. It’s a niche area that others don’t cover that well, compared to XDC.

Unique hybrid blockchain and governance

XDC combines a hybrid blockchain architecture with a unique consensus mechanism (XDPoS). With this set up, XDC balances decentralization, security, and timely transaction validation. This is all geared towards enterprise-grade usage. Furthermore, XDC offers private subnetworks for sensitive data. Regulated institutions like this mix of confidentiality and compliance. These are features that set XDC apart from other ISO 20022 crypto projects.

So, that’s the end of Part 2 of ISO 20022 compliant crypto projects and their altcoins. Do you think these 8 projects have an edge over non-compliant crypto projects? Let me know in the comments and make sure to follow us on X and Discord.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

Copyright Altcoin Buzz Pte Ltd.