The European Central Bank’s Governing Council has approved a feasibility assessment of interlinking the Eurosystem’s TARGET Instant Payment Settlement platform with Brazil’s Pix fast payment system. Conducted with the Central Bank of Brazil, the assessment will examine the technical, operational, legal and business requirements for a potential link that could enable faster and lower cost instant payments between the euro area and Brazil. Pix processes about 250 million real time payments daily, with transactions settled directly in central bank money. The assessment forms part of the Eurosystem’s broader cross border payments strategy, which also includes work to connect TIPS with India’s Unified Payments Interface, Switzerland’s instant payment system and the Nexus Global Payments network.
2026-09-24European Central Bank
European Central Bank launches feasibility assessment of linking TIPS with Brazil’s Pix
The European Central Bank has launched an assessment with the Central Bank of Brazil into the feasibility of linking TIPS with Pix. A potential connection could support faster and lower cost instant payments between the euro area and Brazil and forms part of the Eurosystem’s wider cross border payments strategy.