November 22 2025: What the ISO 20022 Switch Means for Banks, Payments and Crypto

Quick summary: On 22 November 2025 the global payments network SWIFT will end support for the legacy MT message format for many cross-border payments, requiring the newer ISO 20022 standard instead. For everyday bank customers this change happens behind the scenes. For companies, banks and crypto-players it sets up a new stage of payments infrastructure.

What’s changing?

Until now many international transfers used older message formats (called MT), which work but provide limited information and can slow things down. The ISO 20022 standard brings richer, better-structured data for each transaction — more fields, clearer information, better tracking. SWIFT explains.

From 22 November 2025 the “co-existence” period ends. Banks sending or receiving many cross-border payments will need to operate in ISO 20022 format. SWIFT’s FAQ states the cut-off date.

Why this matters for the banking system

For you and me as bank customers the change might not feel dramatic — you still send a transfer and it arrives. But here’s what’s really going on behind the scenes:

• Payments will carry clearer information (who pays whom and why) so fewer delays because of “missing info”.
• Better fraud, sanctions and compliance checks become possible because richer data travels with the payment. Nice Actimize describes this.
• Global banks start speaking the same “payments language”, so cross-border transfers should become smoother and more reliable. BBH gives a good overview.
• On the flip side: banks or countries not ready may experience payment delays, extra cost or processing troubles. A-Team Insight warns of this.

What it means for crypto and Ripple

Important point: the ISO 20022 standard is about messaging across the financial system, not about a specific cryptocurrency being “approved”. So for example, XRP is not magically “ISO 20022-compliant” in the way regulation might use that term.

But here’s where the crypto world connects: analysts note that Ripple (and its network RippleNet) is better placed when banks and payments systems speak the same language. That means:

• Reduced friction for crypto-enabled cross-border liquidity solutions when banks are using ISO 20022 rails.
• Potential for new partnerships between blockchain/crypto providers and traditional financial infrastructure.
• But: still many other factors matter (regulation, adoption, business case) so this is opportunity, not a guarantee of price spikes or breakout adoption.

What you should keep an eye on

If you’re an investor, payment executive or crypto enthusiast, here are some things worth watching:

• Does your bank or payment provider communicate about international transfers & ISO 20022 readiness? Especially if you handle cross-border payments or corporates.
• In crypto: announcements of banks or payments firms teaming up with blockchain/crypto firms that highlight “ISO 20022 compatibility” or “structured payments data”.
• Availability of services where banks treat ISO 20022-native payments as “premium” (faster, cheaper, fewer manual checks) versus legacy ones.
• Any signs in November 2025 of payment delays, messages being rejected or extra cost when firms fall behind — that could tip wider market awareness.

In short: 22 November 2025 is a milestone in global payments. For everyday users it might pass quietly. For banks, fintechs and crypto players it sets the stage for the next decade of cross-border payments — more automated, data-rich and integrated. Stay ready, stay curious.