"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."
"Pix already serves over 175 million users in Brazil and has intermediated nearly 200 billion transactions since its launch in November 2020."
"The U.S. government has criticized Pix's format, as it puts private alternatives at a disadvantage, offering zero fees and instant finality."
"Colombian President Gustavo Petro wants Colombia to adopt Pix next, indicating potential regional expansion of the payment system."
The Central Bank of Brazil is set to launch International Pix, enabling cross-border payments and remittances through its instant payment system. Currently used by over 175 million Brazilians, Pix has processed nearly 200 billion transactions since its inception. While already available in select countries, this initiative aims to permanently connect national payment systems. However, the U.S. government has raised concerns that Pix's zero fees and instant finality could disadvantage private payment alternatives, impacting major players like Visa and Mastercard.
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