Ex Ripple Developer Says XRP Did Not Prioritize ISO 20022 Whatsoever
A former Ripple developer has debunked the XRP ISO 20022 compliance claims. However, XRP could still benefit from RippleNet’s alignment. The latest argument started with Jake Claver, CEO of Digital Ascension Group, praising XRP for what he sees as a forward-thinking move. He claimed that XRP recognized early on the importance of ISO 20022, a global standard that lets financial institutions exchange data in a common, streamlined format.
Ex Ripple Developer Debunks “XRP ISO 20022 Compliance” Claims
Claver argued that this focus is now paying off, claiming the network now processes hundreds of billions of dollars in daily transactions. He described ISO 20022 as one of the most important upgrades in finance, yet it is still misunderstood by much of the crypto industry.
He called the idea that XRP itself is ISO 20022 compliant a complete misunderstanding. According to him, this misunderstanding is fueled by misleading statements in the crypto space. In response, Claver admitted to erroneously conflating Ripple with XRP in his original statement.
Notably, the latest argument resurfaced a long-running discussion around the “XRP ISO 20022 compliance” claims. For context, much of the confusion comes from people blurring the lines between Ripple, the company, and XRP, the cryptocurrency.
XRP is Not ISO 20022 Compliant, But It Could Benefit from RippleNet’s Alignment
Specifically, Ripple’s global payments network, RippleNet, does in fact comply with ISO 20022. Ripple became the first blockchain-focused company to join the ISO 20022 Standards Body in May 2020. Since then, RippleNet has been built to fully support the standard, letting it integrate with banks and payment providers worldwide through a single API.
On the other hand, XRP has no relationship with ISO 20022 compliance. XRP runs on the XRP Ledger, which uses JSON-based APIs instead of ISO 20022’s XML format. ISO 20022 is not a certification for tokens, as it’s a messaging standard. As a result, cryptocurrencies themselves cannot technically be “ISO 20022 compliant.” Ripple’s Chief Technology Officer, David Schwartz, has confirmed that XRP has no direct link to the standard.
The common misunderstanding likely comes from XRP’s role in Ripple’s On-Demand Liquidity (ODL) service, which runs on RippleNet’s ISO-compliant framework to settle cross-border payments instantly. However, even without direct compliance, XRP still benefits from RippleNet’s alignment with ISO 20022. With more banks and financial institutions worldwide moving to the standard, like the U.S. Federal Reserve recently did for its Fedwire system, RippleNet becomes easier to adopt.
Notably, the biggest advantage for XRP is interoperability. RippleNet’s compliance means it can connect directly with global financial systems that follow the ISO 20022 standard, and XRP can then serve as the asset that bridges currencies in real time.
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