According to Reuters, Italy’s central bank deputy governor Chiara Scotti said the European Union should consider advancing the tokenization expansion of the Single Euro Payments Area (SEPA) to keep pace with changes in financial technology. She said that new forms of private money, such as electronic money tokens and tokenized bank deposits based on distributed ledger technology, could affect the roles of traditional banks and central banks. Central banks should design infrastructure that enables public and private currencies to work together. The European Central Bank is currently rolling out the digital euro, Scotti said, and Europe’s existing payment arrangements should also take into account evolving toward tokenization.