Fedwire adopts ISO 20022, boosts XRP, XLM, ADA and ALGO
The U.S. Federal Reserve has officially adopted ISO 20022 for its Fedwire Funds Service, with several cryptocurrencies including XRP, Stellar, Algorand and Cardano, already compliant with the new international messaging standard.
Fedwire, the U.S. central bank’s real-time gross settlement system, is adopting the standard to enhance cross-border payments. This move comes as the global financial ecosystem sees increased adoption of modern payment technologies that prioritize speed, security, and, crucially, interoperability.
XRP, XLM, ALGO are ISO 20022 compliant
ISO 20022, already in operation across multiple countries, will now apply to all financial institutions using Fedwire. Banks and service providers will begin transitioning to a unified global payments framework and communication language. The standard takes effect for Fedwire on July 14, 2025.
As top banks look to tap into blockchain projects that have since become ISO 20022 stand a better chance of traction. Speed and programmable settlements are a major benefit that blockchain offers.
Ripple’s XRP ( XRP ), Stellar ( XLM ), Cardano ( ADA ) and Algorand ( ALGO ) are among the projects meeting this standard. Others are Quant and Hedera . XRP remains the most prominent cross-border crypto asset, bolstered by Ripple’s On-Demand Liquidity platform and a wide array of banking partnerships.
These tokens have seen notable price spikes over the past 24 hours, with XRP, XLM, and ADA reaching key technical levels.
ALGO price- bulls hit 4-month high
Algorand, a layer-1 proof-of-stake blockchain, is among the tokens surging in response to the Fedwire news.
The ALGO token’s price has climbed 10% in the past 24 hours, extending weekly gains to over 61% as it breaks above $0.30. The rally comes alongside a 95% surge in daily trading volume, now above $688 million.
Meanwhile, data from Coinglass shows Algorand derivatives volume has increased by more than 112% to $919 million. Open interest has also climbed, rising 24% to over $153 million, metrics that point to growing bullish sentiment around ALGO’s short-term outlook.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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