ECB studies linking TIPS payment system with Brazil's Pix
The European Central Bank is assessing whether to connect its TIPS instant payment platform with Brazil's Pix, part of the G20 cross-border payments roadmap.
Key points
- The ECB announced on Thursday it is evaluating interlinking TIPS with Pix alongside the Central Bank of Brazil.
- The assessment will cover technical, operational, legal and business considerations, according to the ECB.
- EU-Brazil bilateral trade reached over €87 billion in 2025, making Brazil the EU's tenth-largest partner.
- Pix handles more than 250 million payments daily, while India's UPI drives over 80% of that country's digital payments.
- The ECB is also pursuing links with India's UPI and the Swiss Interbank Clearing Instant Payments system.
The European Central Bank is examining whether to link its TARGET Instant Payment Settlement platform with Brazil's Pix, according to an announcement reported by Bitcoin.com News. The ECB said the study forms part of the G20 cross-border payments roadmap and would be carried out with the Central Bank of Brazil. The aim is to make payments between the European Union and Brazil faster and cheaper for both retail and institutional users.
In a press release, the ECB said it would explore the potential for interlinking TIPS and Pix by assessing technical, operational, legal and business considerations. The bank framed the work as a first step in expanding its payments infrastructure beyond Europe. Bitcoin.com News reported that the announcement was made on Thursday.
The ECB pointed to growing economic flows between the two regions. Brazil is the EU's tenth-largest trading partner, with more than €87 billion, or nearly $100 billion, in bilateral trade recorded in 2025. A connection between the two systems could therefore serve a substantial volume of cross-border activity.
ECB and Brazil talks
TIPS currently settles real-time payments in euros, Swedish krona and Danish krone, but the ECB says the platform can be adapted to handle other currencies. That flexibility could allow the Brazilian real to be included in the arrangement. Pix, meanwhile, processes over 250 million payments a day at low fees.
Bitcoin.com News reported that a combined EU-Brazil system could offer an alternative to SWIFT settlements and reduce reliance on networks controlled by the United States. The article noted that Washington has criticised Pix, arguing it pushes competitors out of the Brazilian payments market.
The initiative also fits a broader push to internationalise the euro. The ECB's move follows a European Commission strategy set out in January 2021 in a communication titled The European economic and financial systems: fostering openness, strength and resilience. That effort has been reinforced by recent momentum behind the digital euro.
Trade and currency reach
Beyond Brazil, the ECB is seeking links with India's Unified Payments Interface, which handles more than 80% of digital payments in that country, and with the Swiss Interbank Clearing Instant Payments system developed by the Swiss National Bank. Bitcoin.com News reported that these steps are intended to extend the reach of euro-denominated payments globally.