European Central Bank
ECB to assess feasibility of interlinking with Brazil’s instant payment system Pix
The ECB Governing Council approved a feasibility assessment, with the Central Bank of Brazil, for linking the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform with Pix. The review will examine technical, operational, legal and business considerations. The ECB says a link could support faster, lower-cost instant payments between the euro area and Brazil; no link or launch date has been approved. The ECB states Pix processes about 250 million instant payments a day, settled in central bank money.