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Deep Tide TechFlow News, May 5th, according to Cointelegraph, the Bank of Italy is urging the European Union to consider building a tokenized version of the SEPA payment system to keep up with financial innovation.
SEPA, the Single Euro Payments Area, aims to unify cross-border payment standards within the Eurozone. The Bank of Italy believes that with the development of tokenization and blockchain payments, the EU needs to assess upgrade paths for the existing payment infrastructure.