ISO 20022’s Nod Puts Ripple’s Interledger on SWIFT Radar — A New Era Set to Begin

Ripple’s Interledger Gains ISO 20022 Approval for SWIFT — A Breakthrough Moment for Global Payments

Prominent analyst SMQKE has highlighted a striking update on the official ISO 20022 site: a formally approved request to enable Ripple’s Interledger Protocol (ILP) on the SWIFT network, timed perfectly with the global shift to ISO 20022 and signaling a potentially transformative leap for cross-border finance.

What Exactly Has Been Approved?

SMQKE reports that the approved change request, submitted by the Mojaloop Foundation, a global payments and settlement initiative, was greenlit in late 2024. 

Notably, the proposal directly references Ripple’s Interledger Protocol, laying the groundwork for seamless interoperability between Ripple’s blockchain-driven settlement layer and SWIFT’s expansive ISO 20022 messaging network.

Importantly, ILP isn’t just a conceptual protocol; it already works with Ripple’s existing infrastructure. SMQKE shared documents showing that ILP uses XRP as a bridge asset for value settlement, with final reconciliation happening on the XRP Ledger.

Why This Matters — Especially “Just in Time for the Migration”

SWIFT’s transition to ISO 20022 is a major structural shift. By early 2026, as much as 90% of SWIFT’s messaging traffic is expected to fully adopt ISO 20022 standards.

 Against this backdrop, ILP’s formal inclusion in the ISO 20022 framework could dramatically boost Ripple’s relevance to banks making the transition. Rather than being a fringe blockchain play, Ripple may find itself more deeply embedded in the foundational rails of global finance.

Bigger Implications for Cross-Border Payments

• Interoperability: This approval suggests that payments could flow seamlessly between traditional banking systems on SWIFT and Ripple’s blockchain-based network.

• Efficiency: Using ILP could reduce friction, improve settlement times, and lower costs by leveraging XRP as a bridge asset.

• Institutional adoption: By aligning with ISO 20022, the global messaging standard for cross-border payments, Ripple strengthens its appeal to banks and financial institutions. SMQKE argues that the ISO shift isn’t just a technical upgrade but a strategic opening for blockchain-based payment rails.

Caveats & Context

• An approved request does not necessarily mean full, immediate integration. This change request is a formal step, not a full-scale deployment.

• ISO 20022 compliance pertains to messaging, not necessarily to all aspects of Ripple or XRP. As several analysts note, it’s the messaging layer, not the token itself, that is being certified in this context.

• Adoption will depend on how many banks and financial institutions actually choose to leverage this ILP-SWIFT rail in practice.

Therefore, SMQKE highlights an approved ISO 20022 request for Ripple’s Interledger Protocol, signaling a potential turning point where blockchain and traditional finance seamlessly interoperate. As SWIFT finalizes its ISO migration, Ripple could emerge as the bridge between legacy systems and distributed ledgers, redefining global money flows.

Conclusion

The ISO 20022 approval of Ripple’s Interledger Protocol isn’t just a technical milestone, it signals a turning point in global finance. As SWIFT completes its migration to modern messaging standards, Ripple positions ILP at the nexus of traditional banking and blockchain innovation. 

This paves the way for faster, cheaper, and truly interoperable payments worldwide. While institutional adoption will determine the speed of integration, Ripple is no longer on the sidelines, it is being woven into the core of the global financial system.