Brazil’s Central Bank to release Pix’s protocols to other countries for free

Roberto Campos Neto

The president of Brazil’s Central Bank, Roberto Campos Neto, stated last week that they’ll release Pix’s technology to other countries during this month:

“Now, in November, we are going to open everything we did at Pix, in terms of protocol, for all the central banks that want to copy it, for free.”

Pix is a payment system that allows for instant, free, and immediate payments. It was launched in 2020 by Brazil’s Central Bank and as of July 2022,  more than 478 million passwords were registered on Pix. This system has been widely adopted in the country due to its simplicity and 24/7 availability. 

Roberto Campos Neto will hold meetings with other Central Banks in Latin America that are interested in the system, such as Colombia and Uruguay.

During an event last September, Campos Neto had already commented on the internationalization front of the instant payment system, mentioning that he had participated in a meeting with the presidents of the Central Banks of Colombia, Uruguay and Peru, which want to implement initiatives similar to Pix.

Campos Neto also addressed the need to encourage banks to work with digital assets:

” [It will help avoid] a custody concentration problem, and because we think it will increase the efficiency of banks when they start seeing assets and liabilities in token form,” he said.

Read more on Exame.

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