The Central Bank of Brazil is considering expanding its Pix payment system internationally, enabling cross-border payments and remittances. This move aims to connect Pix's 175 million users globally, potentially challenging established payment giants like Visa and Mastercard. Pix has facilitated nearly 200 billion transactions since its 2020 launch, offering zero fees and instant finality. The U.S. government has criticized Pix, arguing it disadvantages private payment alternatives. Despite this, Brazilian President Luiz Inácio Lula da Silva supports Pix's internationalization, emphasizing its importance to Brazil. Colombian President Gustavo Petro has expressed interest in adopting Pix, urging Brazil to extend the system to Colombia.
Brazil Eyes Global Expansion of Pix Payment System Amid U.S. Concerns
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