The Federal Reserve has implemented ISO20022 for Fedwire to improve cross-border payments

The US Federal Reserve has officially implemented the ISO 20022 for its Fedwire Funds, effective July 14. Fedwire, the central bank’s real-time gross settlement system, processes approximately $4. 7 trillion in payments daily. Much of that volume is tied to international trade and financial transactions denominated in US dollars. Under the ISO 20022 standard, those transactions […] source: https://www.cryptopolitan.com/fed-implements-iso20022-cross-border-payment/