Swift’s long-running ISO 20022 transition is largely complete, but the next stage—updating banks’ customer data—has encountered delays, according to Bull Runners and a YouTube video cited in a DailyCoin report.

The video refers to Swift’s “Call to Action for November 2026” page, which states that unstructured postal addresses will no longer be accepted in payment messages after November 14, 2026. Banks would instead have to use fully structured or hybrid addresses.

The migration issue is embedded in customer data

Swift later published an August notice acknowledging that “large parts of the industry across all regions” were still unable to meet the structured-address requirement, according to Bull Runners. Several banking communities and domestic payment-market infrastructures reportedly requested additional time.

Swift accepted a controlled extension but did not announce a replacement deadline for the payment-message changes. Instead, it said it would consult banks, central banks, market infrastructures and corporate users, with an update due by December at the latest.

The distinction is significant. A payment can use the ISO 20022 format while still containing an old-style free-text address: one field holding a customer’s building number, street, city and country. Structured data separates those components into machine-readable fields, reducing the need for banks to interpret the same information differently at each stage of a correspondent-banking chain. The remaining work therefore concerns how customer information is stored, mapped and validated as well as how payment messages are formatted.

ISO 20022 adoption did not produce the repricing many expected

Bull Runners cite Swift’s statement that more than 98% of payment instructions are now sent in ISO 20022 format after the migration from legacy MT messages. Swift says the transition from MT payment messages was completed on November 22, 2025, without an unusual reaction in the price of XRP.

That outcome challenges a popular crypto narrative that ISO 20022 adoption itself would catalyze tokens associated with payment infrastructure. The video’s host also disputes the claim that XRP is “ISO 20022 compliant,” pointing out that ISO 20022 is a financial-messaging standard rather than a designation that applies directly to a digital asset.

Ripple’s membership in the ISO 20022 standards body is genuine, but it is distinct from saying that XRP itself has received certification for a messaging format.

Upcoming milestones

Following consultations, Swift is expected to set an exact date in the first quarter of 2027 for securities and trade changes. The timetable for structured addresses is due to be updated by December. The YouTube video presents those milestones as more relevant than the original November address deadline. Together, they show that completion of the core payment-message migration does not mark the end of ISO 20022-related implementation work; data requirements and later market-specific changes remain separate milestones.