"The Central Bank plans to launch International Pix, allowing individuals and companies to complete cross-border payments and remittances using the Pix network, which already serves over 175 million users."
"Mercado Libre introduced mercado coin in August 2022 as an ERC-20 asset, but it will be discontinued, with unused tokens converting to local fiat on April 17."
"Pix has intermediated nearly 200 billion transactions since its launch in November 2020, showcasing its rapid adoption and significance in Brazil's payment landscape."
"The USTR warns that the expansion of Pix could threaten established payment giants like Visa, particularly in the context of the upcoming Brazilian elections."
The Central Bank of Brazil is set to introduce International Pix, enabling cross-border payments for its 175 million users. This initiative aims to enhance the existing Pix system, which has already facilitated nearly 200 billion transactions since its inception. Meanwhile, Mercado Libre is discontinuing its mercado coin, an ERC-20 token launched in 2022, which will automatically convert to local fiat currency by April 17. The USTR has raised concerns that Pix could disrupt traditional payment giants like Visa, especially ahead of Brazil's presidential elections.
Read at news.bitcoin.com
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