The ugly price action has distracted everyone from appreciating one of the greatest breakthroughs in banking history, one that's right up there with the invention of the abacus, the adoption of double-entry book keeping, and the securitization of credit. SWIFT has completed the migration to the ISO 20022 messaging standard. Sure, we'd rather have economic inclusion, payments that don't take 3 days, banks that don't need constant bailouts, or even an app that doesn't randomly make you change your password every few months. And never mind that crypto is offering universally accessible instant agentic programmable payments that can a made atomically vs any other tokenized asset. This is actually a big deal for the banking industry. They can now message using the same modern format (while still taking days to settle payments and charging exorbitant fees). And it only took 7 years to implement! Bravo.