SEP-31
Crypto ProtocolSEP-31 is Stellar's cross-border payments API standard that defines how anchors send payments on behalf of customers. It is not an ISO 20022 message format.
SEP-31 (Stellar Ecosystem Proposal 31) is a protocol specification for cross-border payments between anchors. An anchor is a regulated entity that bridges traditional fiat to the Stellar network.
SEP-31 defines direct anchor-to-anchor payments between institutions, and SEP-9 defines standard KYC and AML fields. Neither is an ISO 20022 message format, and SEP-9 only borrows ISO encodings for things like language, country, and date. Stellar's developer documentation says the ledger updates every 5 to 7 seconds.
The only ISO 20022 wording the Stellar profile on this site found is in an SDF case study about DCM's Ukraine payment network, an application-layer description of a third-party product rather than protocol-level standing. No cryptocurrency can be certified, because the standard governs message formats, not assets.
Crypto Relevance
SEP-31 is Stellar's own API standard for anchor-to-anchor payments. It is not an ISO 20022 message format, so it does not give XLM formal ISO 20022 standing.
Related Terms
Stellar Anchor
A Stellar anchor is a regulated entity that issues assets on the Stellar network and provides fiat on- and off-ramps, bridging the Stellar blockchain and the traditional banking system.
XLM Remittance Module
XLM's role in ISO 20022 coin lists is remittances and stablecoin rails, using anchors and Stellar's SEP standards, with no formal ISO 20022 standing.
SEP-24
SEP-24 is the Stellar standard for interactive, anchor-hosted deposits and withdrawals — a wallet hands the user off to the anchor's own web interface to complete KYC and payment details.
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Sources
Last updated: 2026-09-29