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The bank announced that it is considering providing access to the Brazilian instant payment network Pix to other countries, enabling cross-border payments and money transfers using this system. The U.S. government criticized the Pix format, as it disadvantages private alternatives.
Key takeaways:
Brazil's Central Bank plans to launch International Pix to connect 175 million users worldwide.
According to USTR, 200 billion Pix transactions with reduced fees threaten giants like Visa and Mastercard.
Colombian President Gustavo Petro wants Colombia to be the next country to implement Pix.#GateSquareAprilPostingChallenge