CBPR+

CBPR+ (Cross-Border Payments and Reporting Plus) is the SWIFT-defined rulebook that specifies which ISO 20022 messages, data requirements, and timelines apply to cross-border payments globally. It is not a technology itself; it is the governance framework that mandates when and how banks must switch from legacy MT messages (MT103, MT202, MT195, etc.) to their ISO 20022 equivalents (pacs.008, pacs.009, camt.110, etc.).

The CBPR+ migration began with a coexistence period on March 20, 2023 (itself delayed from an originally planned November 2022 start, at the community's request), during which both MT and ISO 20022 messages were accepted. The coexistence period for cross-border payment messages (MT103, MT202) ended November 22, 2025. Mandatory structured addresses were originally set for November 14, 2026, and MT101 retirement for November 2026, but SWIFT postponed both on August 27, 2026 (no confirmed new date; expected by December 2026, with a floor of at least November 2027 for continued MT101/unstructured-address use). Separately, SWIFT lists June 12, 2027 for the non-payments part of the same deferred release: other MT categories, ISO 20022 securities and funds messages, tracker messages, and exceptions and investigations messages (which J.P. Morgan's summary places camt.110/111 within).

CBPR+ matters to crypto investors only indirectly. It defines the data format that bank-to-bank cross-border payments use, and ISO does not certify any coin against it. RippleNet appears on ISO's Registration Management Group member list; Quant describes QuantNet as ISO 20022-native, which is a vendor claim; Stellar's SEP-31 and SEP-9 are not ISO 20022 message formats. Whether any coin network sits inside CBPR+ payment flows in production is not established by these profiles.