Leading cryptocurrency aggregator CoinMarketCap has added XRP and Cardano to the newly created ISO 20022 token category.
A newly created category on CoinMarketCap features crypto assets that claim alignment with the ISO 20022 international financial messaging standard. XRP leads the list with a market capitalization of $133.68 billion, followed by Cardano with $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, which are also included in CoinMarketCap's ISO 20022 category.
The total market valuation of listed tokens reaches $174.89 billion, and the trading volume in the past day reached $8.48 billion.
Top ISO 20022 token market capitalization
XRP and Cardano are “ISO 20022 compliant”
ISO 20022 is a financial messaging standard adopted by banks, payment networks, and large traditional financial institutions to enable richer, more structured financial communications.
Its growing relevance has fueled an ongoing debate within the cryptocurrency community about which digital assets meaningfully align with the standards.
Earlier this month, Cardano founder Charles Hoskinson shared an infographic outlining tokens and the role they will play in the ISO 20022 landscape. XRP is notable for its utility in cross-border payments, and ADA stood out as the only smart contract-focused asset on the list.
Hoskinson commented, stressing that ISO 20022 is critical for open banking and could help bridge the gap between decentralized and traditional finance.
Financial institutions adopt ISO 20022
In fact, financial institutions around the world are rapidly adopting ISO 20022. Ripple became one of the first cryptocurrency-focused companies to join the ISO 20022 standards body in 2020, followed by other blockchain projects such as Stellar and Pi Network.
Beyond the cryptocurrency sector, large traditional financial institutions are also beginning to integrate this standard. Earlier this year, the U.S. Federal Reserve announced plans to require all participants who become members and use FedWire Funds services to adopt ISO 20022 for messaging.
Globally, this transition is accelerating, and it is estimated that approximately 80% of financial institutions will be using ISO 20022 by the end of the year.
ISO 20022 is now live – but nothing changes for XRP
Notably, ISO 20022 officially went live on November 22nd, ending the period of coexistence between SWIFT and legacy MT messages. Despite years of hype by some in the XRP community, activity on the XRP Ledger has remained steady at around 22 transactions per second.
Experts have long emphasized that ISO 20022 is only a messaging upgrade and not a payment system related to cryptocurrencies. This disproves repeated claims that the standard “forces” banks to use XRP.
A former Ripple developer and XRPL validator reiterated that XRP has no special status under ISO 20022. Ripple's CTO had previously clarified the same.
