ECB and BCB to explore linking Tips and Pix
Feasibility assessment could take a year or more before link is approved
The governing council of the European Central Bank is assessing the feasibility of interlinking the Eurosystem’s Target Instant Payment Settlement (Tips) platform with Brazil’s fast payment system, Pix.
The ECB said in a press release published on September 24 that “in view of the significant economic flows between the euro area and Brazil, an interlinking of the two payment systems could facilitate faster and lower-cost instant payments between the two regions”.
Economic flows between the euro
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