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Global Financial Community Completes Transition to ISO 20022

Global Financial Community Completes Transition to ISO 20022

Author:

Global Cryptocurrency

Published:

2025-11-25 18:31:01

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BTCCSquare news:

The financial world has fully embraced ISO 20022, with 97% of payment instructions now transmitted using the new standard. Swift's Nicolas Stuckens confirms the coexistence period with legacy MT formats has ended, marking a pivotal shift in cross-border payments.

MT103 and MT202 formats are officially retired, replaced by their ISO 20022 equivalents. A conversion service remains operational for residual MT instructions, ensuring full compliance across the ecosystem.

G20-endorsed ISO 20022 promises enhanced payment experiences and digital transformation capabilities. Jerome Piens of Swift hails this as a foundational upgrade for global payments infrastructure, emphasizing its role in enabling rich, structured data flows.

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