The Sistema de Transferencia de Reservas processed 532.42 million transactions in 2024, up from 380.87 million in 2023, marking a 39.8% annual increase. The surge was primarily driven by migration of transactions from Sitraf, a private-sector clearing house, after fee increases prompted participants to redirect payments through the central bank's settlement infrastructure.
STR now handles 44% of all transaction volume within Brazil's Sistema de Pagamentos Brasileiro, up from 28% in 2020. This shift reflects a structural realignment in the country's payment architecture, with more institutions choosing to settle directly in central bank money rather than through private intermediaries.
The system's participant base expanded to 581 direct participants by early 2026, with 48 new participants joining during 2024. Of these, 10 connected directly, 34 through the PSTI integration layer, and four via internet access. Payment institutions now account for 44% of all STR participants, reflecting the diversification of Brazil's settlement ecosystem beyond traditional banks.
At the end of 2024, STR maintained 419 account holders distributed across several categories: 143 holding bank reserves, 219 in non-banking settlement accounts, 49 in payment institution settlement accounts, seven financial market infrastructure entities, and one government account.
Government bond operations settled through STR reached R$1.13 quadrillion in 2024, representing 81% of total value throughput. Client transfer values increased by R$3.3 trillion during the year despite a 4.6% decline in the number of client transfers, indicating a shift toward higher-value individual transactions.
STR operates between 06:30 and 18:30 Brasilia time (UTC-3) and is accessed by 95% of participants through the RSFN, the National Financial System Network. System availability reached 99.85% as of December 2024, exceeding the regulatory minimum of 99.80%.
The system also plays a foundational role in PIX, Brazil's instant payment system. While PIX transactions clear through the SPI, the dedicated instant payment settlement infrastructure, final settlement occurs in central bank money through participants' reserve accounts at the STR. This architecture makes PIX one of the few instant payment systems globally with real-time settlement in central bank funds.
STR settled the equivalent of Brazil's nominal GDP approximately every two business days during 2024, underscoring its scale within the country's financial system.