Brazil and ECB begin evaluation to link Pix with European instant payment system TIPS

The Central Bank of Brazil and the European Central Bank have initiated an evaluation phase to connect Brazil's Pix instant payment system with TIPS, Europe's instant payment settlement system. This follows a June 10 presentation on cross-border payments in TIPS. The move signals progress toward interoperability between major payment systems, potentially enhancing cross-border payment efficiency and financial integration, though no timeline or technical details have been disclosed.