Brazil's central bank said on Monday that it is evaluating the prospects for its popular instant payment system Pix to establish connections with similar platforms abroad; this is a more concrete step towards cross-border integration while the system is being investigated by the US. In a report on Pix, the Bank of Brazil said that in cross-border payments, connecting to instant payment systems can reduce costs, speed up transactions, expand coverage, and increase transparency. Pix was recently accused by the US government of unfair competition and used as a basis for the US to impose new tariffs on Brazilian goods. This statement is more firm than the regulator's previous Pix management report in 2023, which only stated that the platform's “future possibilities” are interconnected with international instant payment systems. According to the latest report, the authorities are discussing the establishment of bilateral connections and participation in multilateral payment hubs. Brazil's central bank told Reuters in July that it had signed information-sharing agreements on Pix with 65 foreign peers, including Germany, Canada, South Africa, and Turkey.

Brazil's central bank said on Monday that it is evaluating the prospects for its popular instant payment system Pix to establish connections with similar platforms abroad; this is a more concrete step towards cross-border integration while the system is being investigated by the US. In a report on Pix, the Bank of Brazil said that in cross-border payments, connecting to instant payment systems can reduce costs, speed up transactions, expand coverage, and increase transparency. Pix was recently accused by the US government of unfair competition and used as a basis for the US to impose new tariffs on Brazilian goods. This statement is more firm than the regulator's previous Pix management report in 2023, which only stated that the platform's “future possibilities” are interconnected with international instant payment systems. According to the latest report, the authorities are discussing the establishment of bilateral connections and participation in multilateral payment hubs. Brazil's central bank told Reuters in July that it had signed information-sharing agreements on Pix with 65 foreign peers, including Germany, Canada, South Africa, and Turkey.