Turning "central bank money on-chain" from a single proposal into three paths laid out for comparison is itself a signal: the ECB is no longer content to debate whether to do it, but has started mapping out what the viable approaches actually look like.
According to The Block, the ECB has recently proposed three models as possible directions for putting central bank money on-chain, against a backdrop of financial institutions exploring suitable settlement infrastructure. This suggests that both regulators and market players in the eurozone have moved into a stage of comparing concrete options for how traditional clearing systems might connect with blockchain — rather than staying at the level of conceptual discussion.
Public information currently extends only to the fact that "the ECB has proposed three models." The design logic, applicable scenarios, participating institutions, and follow-up timeline for each model have not yet been further disclosed, and will need to be watched for once official details are released.
