Brazil’s central bank accelerates plans to link Pix with global payment systems as US trade scrutiny over the platform grows.
Brazil’s central bank is actively exploring cross-border integration for its Pix instant payment system, aiming to reduce costs and speed up transactions. The move follows US criticism of Pix as an unfair trade practice, which contributed to new tariffs on Brazilian goods.
The latest report from the central bank adopts firmer language than its 2023 edition, now discussing bilateral connections and multilateral payment hubs. Authorities have already signed information-sharing agreements with 65 foreign counterparts, including Germany, Canada, and South Africa.
Pix, launched in 2020, dominates Brazil’s electronic payments, offering free person-to-person transfers and lower merchant fees. The system has expanded financial access for millions but faces heightened international scrutiny.