Ripple competitor SWIFT has announced its plans regarding adopting the ISO 20022 standard and integrating blockchain technology into its operations. Furthermore, the firm suggested that it has no plans to launch a token, which could have competed with XRP.

SWIFT Unveils Plans In Race Against Ripple And XRP

In an X post , crypto commentator John Squire shared a video in which a SWIFT executive highlighted how the company will be adopting the ISO 20022 data format for its payment services. She noted that this will open up opportunities for banks to offer value-added products and services to their customers. This comes as the company faces increased competition from Ripple, which uses XRP as the bridge currency for its payment services.

Furthermore, the SWIFT executive

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