The Central Bank of Brazil and the European Central Bank have begun a joint assessment of whether Brazil’s Pix instant payment system can be linked with the Eurosystem’s TARGET Instant Payment Settlement infrastructure, known as TIPS. The work will examine the technical, operational, legal and commercial requirements for connecting the platforms, with no decision on implementation yet announced. If found feasible, the link could enable remittances and purchase payments to reach recipients in local currency within seconds, potentially reducing costs and improving the speed, accessibility and transparency of transfers between Brazil and Europe. Pix processes about 250 million transactions a day and settles them in real time in central bank money. TIPS currently supports instant settlement in euros, Swedish kronor and Danish kroner. The assessment forms part of broader efforts to connect instant payment infrastructures across jurisdictions and supports the Group of 20 agenda for faster, cheaper, more transparent and accessible cross-border payments.
Source: 2026-09-29Central Bank of Brazil
Central Bank of Brazil and European Central Bank assess linking Pix and TIPS for instant cross-border payments
The Central Bank of Brazil and the European Central Bank are assessing the feasibility of linking Pix with TIPS for instant cross-border payments. The review covers technical, operational, legal and commercial requirements. A viable connection could enable transfers and purchase payments to reach recipients in local currency within seconds and at potentially lower cost.