ECB and Brazil Explore Cross-Border Instant Payment Link

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

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

The ECB has confirmed that it is investigating a potential link between TIPS and Pix, which was identified as a 'currency corridor under exploration' for TIPS in June.