7 Crypto Projects Compatible with ISO 20022 in Canada

Previously, we published an article demystifying ISO 20022 in Canada. A payments messaging standard growing in favour among financial institutions and blockchain-based projects, it enables greater transparency, transaction reconciliation and settlement speed and interoperability.

Whereas banks previously relied on payment messaging systems with limited characters, ISO 20022 enables financial institutions to include more transaction and identity-related information than ever through XML and JSON schemas.

SWIFT institutions, Lynx, our high-value transfer settlement system, as well as our Real-time payment train in Canada, all use ISO 20022. Yet compatible blockchains are well positioned to fill the current readiness gap. Not half of the banks on the global scene had implemented ISO 20022 in November 2025.

An important distinction was additionally drawn when it comes to cryptocurrency. There is no certification program for “ISO 20022 compliant coins”, rather, network infrastructures are built to support the messaging standard through translation layers or integration protocols. Activity on the blockchain is converted into compatible messages that can be interpreted by traditional financial institutions without friction by wielding smart contracts or by generating legible XML or JSON formats.

In this article, we take a look at the 7 prominent blockchain projects compatible, rather than compliant, with ISO 20022 in Canada.

In Sum

• ISO 20022 is becoming the global standard for financial messaging, and while Canadian payment systems like SWIFT, Lynx and real-time rails already use it, many banks worldwide are still in the process of adopting it.
• There is no such thing as an “ISO 20022–certified” cryptocurrency; instead, certain blockchain networks are built to support the standard by translating on-chain activity into structured XML or JSON messages that traditional financial institutions can process.
• Projects such as Ripple, Cardano, Stellar, XDC, Hedera, Algorand, Quant and IOTA focus on enterprise use cases, interoperability and structured data, positioning them to integrate more easily with banks and existing financial infrastructure.
• As regulatory clarity improves in Canada and globally, ISO 20022–compatible blockchains may play a growing role in bridging traditional finance and decentralized systems, particularly for payments, settlements and tokenized assets.

Ripple (XRP)

Perhaps the most known project in this list, both across DeFi and TradFi spaces, RippleNet is a blockchain-based network aligned with ISO 20022 standards and specializing in cross-border payments.

Ripple is the first blockchain technology organization to appear as a member of the Standards Body. As mentioned in our previous article, the ISO 20022 Registration Body is an organization bringing together institutions with interest in promoting, maintaining and supervising the development of ISO 20022.

Its membership in the Standards Body shows its proximity to the world of traditional finance, while signaling that blockchain can be compatible with global payment standards. Ripple has also demonstrated blockchain’s impressive capacity in an early test in which ATB and Ripple collaborated to send funds to Germany in mere seconds using the latter’s tech.

Whether RippleNet will rival SWIFT among payment consumers comes down to regulatory developments. On the other hand, Leibbrandt, former SWIFT CEO, suggested integration was possible, and that eventually, with regulatory clarity, XRP could be integrated as a native currency for settlements.

Cardano (ADA)

Cardano was created by an ex co-founder of Ethereum, with the mission statement of overcoming issues found in earlier cryptocurrencies. The largest proof-of-stake-based network at launch (at the time, Ethereum was still running on proof-of-work), it is a blockchain platform built to support enterprises, streamline chains, enabling global payments and on-chain social programs tracking or tokenizing assets.

Cardano’s architecture is compatible with ISO 20022 standards for payment messaging according to co-founder Hoskinson who additionally expresses the belief that ISO 20022 is key to bridging the gap between traditional finance and decentralized finance, as well as enabling open-banking.

Stellar (XLM)

The Stellar blockchain network was built to support and represent any currency digitally, facilitating their exchange. Designed for low-cost cross-border payments, its native cryptocurrency, the lumen (XLM), is central to how the network functions.

ISO 20022 messaging is supported on the Stellar network, with blockchain transactions mapped according to the standards’ payment messages. Importantly, this guarantees the preservation of all structured field information throughout potential bank settlements on the Stellar network.

XDC Network (XDC)

The XDC network is an enterprise-grade blockchain specializing in bringing real-world assets, including financial instruments on-chain, through a process known as tokenization. Supply-chain management is thus streamlined through improved transparency, traceability and automation.

On the consumer side, XDC is less known as it is a trade finance-focused cryptocurrency, the network of which is ISO 20022-compatible in order to serve large enterprises’ data needs. The XDC network’s smart contract capabilities are a key enabler of ISO 20022 messaging, supporting fast, scalable, low-fee and secure transactions that allow digital assets to be included directly in a message’s payload for instant settlement.

Hedera Hashgraph (HBAR)

Hedera Hashgraph is not a blockchain per se, though like many blockchains, it uses a proof-of-stake consensus mechanism. Instead of grouping transactions into sequential blocks, Hedera uses a distinct form of distributed ledger technology called Hashgraph consensus. Indeed, while blockchain uses a chain of blocks, each verified one after the other, Hashgraph is organized like a web. The different junction points allow transactions to be processed simultaneously,

Hedera also focuses on enterprise use cases, allowing companies to deploy solutions for payments, identity, supply-chain traceability and tokenization at scale. 

The network supports ISO messaging. Its network has the capacity to act as an immutable log for ISO 20022 standardized messages while its token (HBAR) handles asset operations.

Hedera is owned by some of the largest and more prominent organizations in the world, including Google, IBM and Boeing, and  features on the World Economic Forum website as a partner. Its relationship to leading companies of the era positions Hedera as a credible, enterprise-oriented network with strong governance and a clearer path to institutional adoption.

Algorand (ALGO)

Algorand improves on the proof-of-stake consensus mechanism with its own ‘pure’ proof-of-stake protocol. Chiefly, Algorand supports a wide range of use cases, supporting everything from decentralized finance (DeFi) to real-world asset tokenization. Its mission statement: using blockchain for the improvement of society at large, including a marked commitment to sustainability.

Algorand’s ISO 20022 compatibility positions the network for integration with traditional financial institutions, while its Wormhole integration enables robust multichain interoperability and cross-chain collaboration.

Quant Overledger (QNT)

An enterprise-grade blockchain-agnostic operating system, Quant Overledger combines blockchain with traditional finance, ensuring cross-chain interoperability. Overledger connects to any blockchain, with the Quant team regularly adding new networks to it.

Its versatility gives it a competitive edge among other ISO 20022-compatible players in the cryptocurrency space, enabling companies without having to commit to a single chain. In practice, Quant’s ISO 20022 compatibility is commonly framed as a way to help institutions and applications translate between legacy financial messages and activity occurring across different blockchains, supporting compliance-friendly integrations among other use cases.

IOTA

IOTA takes a distinct approach to distributed ledger technology, using a directed acyclic graph (DAG) architecture known as the Tangle rather than a traditional blockchain, while using a delegated proof-of-stake consensus mechanism as an overarching protocol. It sees itself as the “next generation of blockchain”. IOTA is designed for machine-to-machine (M2M) payments, Internet of Things (IoT) applications, from which it derives its name, and data integrity.

From an enterprise perspective, IOTA has positioned itself close to traditional finance and institutional frameworks, including alignment with ISO 20022 messaging concepts for structured data exchange. Rather than focusing solely on payments, IOTA emphasizes standardized data transfer and interoperability, allowing financial and non-financial data to be shared securely and immutably across networks.

Nothing in this article should be construed as investment advice or an endorsement of any digital asset or network. EZO operates independently as a crypto OTC desk, facilitating digital asset purchases, sales, and swaps for clients seeking private and transparent execution, with fees that become more and more advantageous as volume grows. Contact our team today!

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Frequently Asked Questions

What is ISO 20022 and why does it matter for crypto?
ISO 20022 is a global financial messaging standard that allows institutions to send richer, more structured transaction and identity data using XML and JSON formats. For crypto projects, supporting ISO 20022 makes it easier to integrate with banks, payment systems and traditional financial infrastructure by reducing friction in data interpretation and settlement.

Are there ISO 20022–compliant cryptocurrencies?
No. There is no official certification program for “ISO 20022–compliant” coins. Instead, certain blockchain networks are built to be compatible with the standard by using translation layers, smart contracts or integration protocols that convert on-chain activity into ISO 20022-readable messages.

Why are ISO 20022–compatible blockchains important right now?

As of November 2025, fewer than half of banks globally had fully implemented ISO 20022. Compatible blockchains are therefore well positioned to help bridge this gap by supporting structured messaging while banks complete their transitions.