Central Bank assesses Pix interconnection with European TIPS system
Monetary authorities from Brazil and Europe analyze technical, operational, and legal aspects to interconnect Pix and TIPS structures.
TL;DR
- The Central Bank of Brazil (BC) and the European Central Bank (BCE) are assessing the interconnection of Pix and TIPS.
- The evaluation focuses on technical, operational, legal, and business aspects for connecting the payment infrastructures.
- The goal is to enable faster, more efficient, and less costly cross-border payments between Brazil and the Eurozone.
- TIPS is managed by the BCE and operates with the Euro and Scandinavian currencies, with plans for expansion.
- While TIPS operates at wholesale, Pix serves end-users; both aim to overcome traditional international transfer barriers.
- This initiative is part of the BC's ongoing efforts to link Pix with multilateral and international payment systems.
- Broader potential benefits include reduced costs, increased speed, greater access, and improved transparency in cross-border transactions, aligning with G20 objectives.
- The Eurosystem is also exploring connections between TIPS and other global instant payment systems, such as Nexus, India, and Switzerland.
- Pix, launched in 2020, is one of the world's largest instant payment systems, with R$ 35.4 trillion moved in 2025 and over 170 million users in Brazil.