Directly from Ripple: “We Have Been Aligned With ISO 20022 from Day One”

Crypto researcher SMQKE shared a recent statement from Ripple that centers on its involvement with ISO 20022. The message focuses on how Ripple has positioned itself in alignment with this global financial messaging standard since the beginning of its development strategy.

An accompanying video features Pegah Soltani, Head of Payments Products at Ripple, who provides detailed commentary on the importance of ISO 20022 and Ripple’s role in the broader evolution of payment infrastructure.

Ripple’s Perspective on Current Payment Limitations

In the video, Soltani explains that the global payments landscape remains fragmented, as different regions and systems operate with varying protocols. She notes that systems in Europe and the United States use different messaging methods, which results in isolated payment networks that do not operate seamlessly with one another.

Soltani adds that the data transmitted between these systems lacks depth and structure, often leading to processes that require manual correction. According to her, these conditions contribute to inefficient transaction handling and an overall unsatisfactory experience for payment users.

The Significance of ISO 20022 Implementation

Soltani describes ISO 20022 as a global standard designed to unify the exchange of financial information. She states that it promotes interoperability across payment networks, streamlines transaction processes, and enables the transfer of richer, more structured data.

She further explains that the standard can increase competition because it is open and adaptable. Within this framework, institutions can communicate more consistently, reducing operational complexity and improving the reliability of cross-border financial activity.

Ripple’s Early Adoption and Security Commitments

According to Soltani, Ripple aligned with ISO 20022 from the outset, based on an internal understanding that the industry would shift in this direction.

She emphasizes that Ripple acted early in contributing to the shaping of the payment standards through participation in related governance bodies. Soltani also highlights Ripple’s commitment to security, noting that the company holds SOC 2 certification.

This certification assures users of the company’s approach to security, privacy, and data handling standards. She also mentions that Ripple has achieved SOC 2 Type 2 status, which demonstrates that its practices have been consistently maintained over time rather than merely put in place.

SMQKE’s post highlights Ripple’s position on ISO 20022 and its long-term strategy in modernizing global payment infrastructure. The commentary from Soltani outlines the challenges of current systems, the benefits of standardized messaging, and the company’s ongoing adherence to security requirements. The remarks align with Ripple’s broader messaging around efficiency and interoperability in cross-border financial operations.