The new EU draft proposes to require member state banks to provide instant euro payment services

ChainCatcher news, the European Commission has proposed a draft law requiring banks in EU member states to provide instant euro payment services at the same (or lower) cost as existing credit transfers, aimed at increasing public trust in real-time payments and improving the efficiency of sanction screening processes. EU Financial Commissioner Mairead McGuinness stated that instant euro payments could release up to €200 billion locked in the financial system within a day.

Additionally, under the supervision of the European Central Bank, a prototype of the digital euro is being developed, with project assessments and results expected to be published in March 2023. (source link)