Central Bank of Brazil discusses Pix and European TIPS integration

Gilneu Vivan, Director of Regulation and Organization of the Financial System at the Central Bank of Brazil, met with the European Central Bank in Germany to evaluate the feasibility of linking the Brazilian Pix instant payment system with Europe’s TIPS (TARGET Instant Payment Settlement) infrastructure.

Authorities are currently assessing the technical, operational, legal, and business aspects of the interconnection. The goal is to develop a complete pilot project for the connection by the end of next year. The integration aims to facilitate faster, more efficient, and lower-cost cross-border payments between Brazil and the Eurozone, allowing international remittances and purchases to be settled in local currency within seconds.

The initiative is part of the evolutionary agenda for Pix, seeking to connect the Brazilian system with similar multilateral infrastructures in other countries to improve transaction transparency and access.