Leading crypto aggregator CoinMarketCap has added XRP and Cardano to its newly created ISO 20022 token category.
The newly created category on CoinMarketCap features crypto assets that claim alignment with the ISO 20022 global financial messaging standard. XRP leads the list with a market cap of $133.68 billion, followed by Cardano at $14.91 billion.
In addition to XRP and Cardano, CoinMarketCap’s ISO 20022 category includes nine other crypto assets, such as Chainlink, Stellar, Hedera, Algorand, and XDC Network, are also included in CoinMarketCap’s ISO 20022 category.
Together, the listed tokens hold a combined market valuation of $174.89 billion, with $8.48 billion in trading volume recorded over the past day.
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Top ISO 20022 tokens by market cap
XRP and Cardano “Align with ISO 20022”
ISO 20022 is a financial messaging standard adopted by banks, payment networks, and major traditional financial institutions to enable richer, structured financial communications.
Its rising relevance has fueled ongoing debate within the crypto community about which digital assets meaningfully align with the standard.
Earlier this month, Cardano founder Charles Hoskinson shared an infographic outlining tokens that align with the ISO 20022 landscape and the roles they play. XRP featured for its utility in cross-border payments, while ADA stood out as the only smart-contract-focused asset on the list.
Commenting, Hoskinson emphasized that ISO 20022 is crucial for open banking and could help bridge the gap between decentralized and traditional finance.
Financial Institutions Embrace ISO 20022
Indeed, financial institutions around the world are rapidly adopting ISO 20022. Ripple became one of the first crypto-focused companies to join the ISO 20022 standards body in 2020, followed by other blockchain projects such as Stellar and Pi Network.
Beyond the crypto sector, major traditional financial institutions have also begun integrating the standard. Earlier this year, the U.S. Fed became a member and unveiled plans to require all participants using the FedWire Funds Service to adopt ISO 20022 for messaging.
Globally, the shift is accelerating, with estimates suggesting that nearly 80% of financial institutions will be using ISO 20022 by the end of the year.
ISO 20022 Goes Live — But Nothing Changes for XRP
Notably, ISO 20022 officially went live on November 22, ending SWIFT’s coexistence period with legacy MT messages. Despite years of hype from some in the XRP community, activity on the XRP Ledger remained unchanged, holding steady at about 22 transactions per second.
Experts have long emphasized that ISO 20022 is only a messaging upgrade, not a settlement system related to any cryptocurrency. This disproves recurring claims that the standard would “force” banks to use XRP.
Former Ripple developers and XRPL validators reiterated that XRP has no special status under ISO 20022. Ripple’s CTO has previously clarified the same.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
