Payments Canada's Lynx high-value payment system completed its transition from legacy SWIFT MT messages to ISO 20022 MX format on November 22, 2025, coinciding with the global SWIFT CBPR+ coexistence end date.
Smooth Execution
By October 2025, over 98% of Lynx traffic was already in MX format, making the formal end of coexistence largely a formality. The migration was executed on schedule - a notable achievement given Lynx's relatively recent launch (replacing the legacy LVTS in 2021).
What This Enables
ISO 20022's structured data fields in Lynx payments enable improved sanctions screening, richer remittance information, and better automated reconciliation for Canadian high-value payments. The alignment with SWIFT's global timeline ensures interoperability with cross-border correspondent banking flows.
Canadian Payments Context
Lynx handles approximately CAD 200 billion in daily high-value payments. The ISO 20022 completion positions Canada's high-value infrastructure as fully modern ahead of the RTR (Real-Time Rail) launch, which will also use ISO 20022 natively.
Source: Payments Canada