Per a recent announcement by Verge, its native token has gained an advantage by becoming an ISO 20022-compliant asset. Calling this a pivotal moment, Verge has expressed confidence that the development will enable it to accelerate the mass adoption of XVG.
Verge is now the 9th cryptocurrency to offer an option of this standard. It is only the first IoT decentralized community-run currency to have gained ISO 20022 compliance. This has been achieved in partnership with Voice Life and BlockDudes, allowing Voice Life to now facilitate the distribution of passive income. This will be available for F-NFT holders through XVG coin.
BlockDudes has been responsible for the way in which implementations should happen during the process.
The development follows Verge gaining clarity of being verified as not a security. This is indeed a significant milestone and a logical continuation for Verge. The open-source, community-driven digital currency plans on standing true to its commitment to bridging the gap between the world of cryptocurrency and traditional finance. Also, the revised edition of the currency enables users to choose either the ISO standard Verge or the traditional Verge.
The digital currency has also expressed its commitment to being able to uphold the important and basic principles of a public ledger currency, as they were earlier highlighted by Satoshi Nakamoto.
ISO 20022 was originally not drafted with cryptocurrency in mind; however, it is doing wonders with XVG by helping the currency to venture out on a broader financial landscape. It signifies a landmark in the ongoing voyage, said the announcement, adding that they are now headed toward the future of digital currencies.
XVG is estimated to see a wider utility. The token was last seen exchanging hands at $0.0017, with $0.3006 being the highest value so far. Assuming all the factors fall in line, like becoming compliant with ISO 20022, XVG could end 2023 at the mark of $0.0042. Furthermore, XVG future price prediction estimates the token to reach closer to a dollar by the end of 2030.
Verge gaining ISO 20022 standard follows the announcement which states that the Verge currency can now be instantly converted to cash through PayCent physical cards. This is a part of Verge extending its interest in entering into a partnership with PayCent to further close the gap between fiat and digital currency. More specifically, to eliminate the difference between traditional finance and the currency of Verge.
The idea is based on the fact that the fiat currency is still accessible by a large section of the population, and holders of crypto are unable to spend their tokens. While PayCent offers many benefits, the one that stands out is allowing instant crypto-to-fiat transactions. It is backed by regulatory authorities in Singapore, the UAE, and the Philippines.
Verge is now compliant with the standards of ISO 20022, courtesy of the partnership with Voice Life and BlockDudes. It is indeed a significant milestone as it will help Verge to bring together the worlds of traditional finance and cryptocurrency.