The European Central Bank said on 24 September 2026 that its Governing Council has approved initiating an assessment of the feasibility of interlinking the Eurosystem's TARGET Instant Payment Settlement platform with Brazil's fast payment system Pix. The ECB will explore the interlinking in close collaboration with the Central Bank of Brazil, assessing technical, operational, legal and business considerations.
Pix is owned and operated by the Central Bank of Brazil and facilitates approximately 250 million real-time instant payments daily, with transactions settled directly in central bank money, according to the ECB.
Update (2026-09-30): The ECB's page on cross-border payments in TIPS carries a status table for four corridors. When ClearingPost retrieved it on 30 September 2026, the table listed India's UPI in the realisation phase, described as completing the legal arrangements and technical implementation. Nexus, Switzerland's SIC IP and Brazil's Pix were in the investigation phase. For Pix and SIC IP the ECB describes that phase as assessing technical, legal and economic feasibility. For Nexus it says the assessment is being completed.
Banco Central do Brasil used the same term in its own note of 24 September, saying the two central banks were launching an investigation phase that day. It added that TIPS operates with the euro, the Swedish krona and the Danish krone, with expansion planned to other European Economic Area currencies.
Neither the ECB page nor the Banco Central do Brasil note gives a timetable for the Pix link. The ECB page says the Eurosystem aims to add further currency corridors.