The Central Bank of Brazil has revealed its next steps to keep improving and growing Pix, the ubiquitous instant payment system used by almost all adults in the country.
According to local media, the Central Bank plans to launch International Pix, a standard feature that would allow individuals and companies to complete cross-border payments and remittances using the Pix network.
While Pix is already available internationally in Argentina, the U.S., and Portugal, this new initiative would make it permanent, interconnecting instant national payment systems and streamlining settlements. Pix already serves over 175 million users in Brazil and has intermediated nearly 200 billion transactions since its launch in November 2020.
