Italy's central bank urges EU to consider building a tokenized version of SEPA payment system

According to Cointelegraph, the Bank of Italy is urging the EU to consider building a tokenized version of the SEPA payment system to keep pace with financial innovation. SEPA, the single euro payment area, aims to unify cross-border payment standards within the euro area. The Bank of Italy believes that with the development of tokenization and blockchain payments, it is necessary for the EU to evaluate the upgrade path of existing payment infrastructure.