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The European Central Bank will assess whether its TIPS payment platform could be linked to Brazil’s Pix system, a step towards a possible cross-border connection.
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The ECB’s Governing Council approved the start of a feasibility assessment on 24 September. The decision concerns a possible link between TIPS, the ECB’s instant-payment platform, and Brazil’s Pix system; it does not authorise a connection. The ECB published the decision on 2 October. [1]
The council also reviewed progress on links between TIPS and other fast-payment systems and considered a recommendation on pricing an interlinking service. The ECB said it would provide more details as work progresses. [1]
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