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The ISO 20022 standard, known for providing consistent, structured data for various financial transactions, has now embraced the world of cryptocurrencies. This milestone signifies a pivotal moment in the convergence of traditional finance and digital assets. 🚀🚀🚀🚀

The ISO 20022 Crypto-list, comprising eight standards within the International Organization for Standardization (ISO), includes notable cryptocurrencies such as Verge (XVG), Algorand (ALGO), Cardano (ADA), XDC Network (XDC), IOTA (MIOTA), Hedera (HBAR), Stellar (XLM), 🥳🥳🥳🥳🥳🥳 Ripple (XRP), and Quant (QNT). These cryptocurrencies are now positioned to benefit from the increased recognition and credibility associated with ISO 20022 compliance.

Stephen Lindsay, the Business Lead at the Society for Worldwide Interbank Financial Telecommunication (SWIFT), revealed the organization’s commitment to supporting banks by providing standardized ISO 20022-based services.

SWIFT aims to expand the range of services available to banks for cross-border payments in the future, reinforcing the significance of ISO 20022 as a game changer in global finance. 🥳🥳🥳🥳

As the world of cryptocurrencies continues to evolve, the impact of ISO 20022 compliance cannot be overstated. It marks a significant step towards mainstream acceptance and recognition of digital assets as legitimate components of the global financial ecosystem. 🆗🆗🆗🆗🆗🆗

Elba is now working with the Stellar Development Foundation, a nonprofit that supports the growth of the Stellar blockchain network. He started out as a paid brand ambassador, but the relationship has morphed into something more like a mutual business partnership.

The conversation was about real-world utility. “I don’t see myself putting my name to a crypto brand,” says Elba. “I’m highlighting the capabilities of [blockchain as a] tool. And in my opinion, Stellar articulates it best.” 🎉🎉🎉🎉🎉

The particulars of the partnership are at this stage unclear. But to read between the lines, the ambition is to give residents of West Africa an alternative rail for transacting with one another and managing their money.

Elba compares the potential transition in West Africa, from traditional banking to crypto-based financial services, to the shift from physical mail to email. He imagines that, in the same way email gave anyone with internet access an online address from which to communicate, crypto could give everyone a digital financial address.💥💥💥💥

The Stellar Development Foundation (SDF) made the announcement in an official blog post, highlighting its participation as the sole blockchain organization amidst a distinguished group of global collaborators. This strategic move demonstrates Stellar’s dedication to addressing the systemic challenges faced by the 2 billion individuals enduring poverty and insecurity worldwide.

Denelle Dixon, the CEO of SDF, emphasized the synergy between the organization’s objectives and the HRI Initiative. She stated, “SDF’s vision is to give people the tools to build resilient communities. We believe that blockchain technology can play a pivotal role in transforming frontier markets, strengthening local economies, and reducing aid dependency. 💃💃💃💃

It’s about empowering vulnerable communities to develop accessible, sustainable solutions that address deep-rooted challenges. Our participation in this initiative exemplifies our dedication to driving positive change on a global scale.”

The Foundation highlighted in the blog post that its alignment with the HRI Initiative is rooted in a shared vision, which is to harness the transformative power of blockchain to provide tangible solutions to real-world problems. 

Moreover, the HRI Initiative, with its ambitious goal of mobilizing $10 billion in capital by 2030 to empower local businesses in frontier markets, perfectly aligns with Stellar’s mission.

By driving sustainable market-based solutions that reduce aid dependency and bolster community resilience, Stellar’s support for the HRI Initiative marks a significant step towards realizing the organization’s goals of creating meaningful and scalable global impact.

As SDF embarks on this journey alongside the WEF and other prominent collaborators, the blockchain community eagerly anticipates the innovative solutions and transformative impact that will undoubtedly emerge from this pioneering partnership. 🥳🥳🥳🥳🥳

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From YES Bank website about SGB info.😍

SWIFT enrolls 3 central banks in CBDC interoperability beta test, expands sandbox

– SWIFT’s CBDC interoperability test has entered a new phase of sandbox testing.

– The Hong Kong Monetary Authority have integrated their infrastructure’ with ‘CBDC connector solution ‘ for direct testing.

– The first phase began in March with 18 participants.

– This phase the number of participants will top 30.

Sandbox and beta tests 😎😁❤️