XRP Records $434 Billion in Transactions Daily. Here’s How.

Ripple’s XRP handles over $434 billion in transactions a day, but how’s this achievable?. Based on an explanation by Austin King, co-founder of Omni Network, Ripple’s early adoption of the ISO 20022 messaging standard gave XRP a big advantage in the financial world. 

This adoption helped XRP to integrate with traditional financial frameworks without stress, and this put it in a position for success in a changing payments environment worldwide.

According to a report from Currency analytics, the ISO 20022 messaging system has long been adopted by big financials such as J.P. Morgan and Deutsche Bank, who have embraced it in an attempt to make payments easier and faster. 

By supporting such a standard early enough, Ripple effectively positioned XRP in a position between traditional finance (TradFi) and decentralized finance (DeFi), a position many cryptocurrencies have not yet reached. 

However, Ripple’s CTO clarified that XRP doesn’t comply with ISO 20022 directly, but technology works inside the framework. This opens up more chances for XRP to be used in systems that follow this messaging standard.

Moreover, the strategy is now paying off. With 72% of SWIFT member banks scheduled to implement ISO 20022 in 2025, it’s apparent that the standard is becoming increasingly important.

Ripple joined ISO 20022 back in 2020, which has made it easier for Ripple’s tech to connect with banks that use the messaging system. That gives XRP more chances to become part of international payments.

Austin King also revealed that Omni Network is working towards getting Ripple’s stablecoin, RLUSD, into ISO 20022. If it succeeds, RLUSD will become the first ISO 20022 compliant stablecoin, and its use will become even more attractive to traditional financial institutions that are looking to use ISO 20022 for their infrastructure.

Meanwhile, Ripple’s vision goes much deeper than payments and stablecoins alone. King revealed that Ripple and Omni Network are also planning to use XRP Ledger (XRPL) for real asset tokenization. This is big and could open up a trillion-dollar marketplace for tokenized assets, making XRP a major part of the growing on-chain economy. 

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