Brazil, ECB Eye Instant Payment Link Between Pix and TARGET

Brazil's central bank and the European Central Bank (ECB) are exploring a potential link between their instant payment systems, Pix and TARGET Instant Payment Settlement (TIPS), respectively. This move could mark the first cross-border expansion of Brazil's highly successful Pix platform.

According to sources, technical teams on both sides are assessing whether such an interconnection is feasible. A pilot project could be launched in 2028 if the initiative advances as planned.

The ECB confirmed that it is conducting a preliminary investigation into linking TIPS with Pix, which was identified as a 'currency corridor under exploration' for TIPS in June. Brazil's central bank declined to comment on the matter.