The instant payment system created by the Central Bank has transformed the use of money in Brazil and become an international model, while the United States faces delays and political disputes over digital innovations.
Brazil exports a rare case of digital public policy that has become the standard: the Pix.
Created and operated by central bankThe instant payment system has established itself as the most widely used payment method in the country, with settlement in seconds and zero cost for individuals.
Meanwhile, the United States is moving more slowly with the fednow and they discuss restrictions on a central bank digital currency.
The contrast reignited the regulatory dispute: in July 2025, the US government opened a trade investigation that cites the Brazilian payments environment — including Pix — among the focuses of the inquiry.
Compliant Attila Iamarino stated in a video published on the channel Attila Iamarino On YouTube, the efficiency of Pix helps explain why it has become a “global example,” by combining… public infrastructure, widespread adoption, and low cost. for the end user.
According to him, the success demonstrates how a public interest solution It can organize a market that was previously fragmented by fees and friction typical of traditional cards and transfers.
How Pix gained scale and became a benchmark.
Launched in November 2020 after two years of formal design, Pix unified rules, keys, and messages in a neutral central infrastructure, managed by the Central Bank and operating 24 hours a day.
The result was a surge in volume and hair growth.
In 2025, the system broke new daily transaction records, consolidating itself as retail payment standard in the country.
According to International Monetary Fund (IMF)Pix brings together design features that favor rapid adoption: openness to banks and fintechs, Immediate settlement and low costs.
In 2023, an IMF study described Pix as success story in instant payments, highlighting interoperability and the role of pro-competition regulation.
As he emphasized Attila IamarinoThis architecture allowed millions of Brazilians to move into pay small amounts digitally…something that traditional cards and transfers don’t always make possible with ease.
He further noted that Pix has expanded the financial inclusionby “bringing the mobile phone to the center” of everyday banking use, a move also recognized by the IMF and the Central Bank.
USA: FedNow advances, but without the same level of participation.
In the United States, the fednow — the Federal Reserve’s instant payments service — was launched in July 2023, with financial institutions gradually joining.
Two years later, adoption continued to expand, but still lagged far behind Pix’s penetration in Brazil.
While Pix quickly gained popularity in retail, FedNow is advancing more slowly, partly because it depends on voluntary participation from banks and coexists with other private networks.
As highlighted Attila IamarinoThe American regulatory context also plays a role.
In 2025, the House of Representatives approved the Anti-CBDC Surveillance State Act, a project that seeks prohibit the Federal Reserve from issuing a retail digital currency, including restricting studies and tests.
The proceedings reflect a heated political debate about Privacy and the Role of the State in digital payment methods.
Trade friction: from Brasília to Washington
In July of 2025, the USTR (The U.S. Trade Representative’s office) opened an investigation under the 301 section to investigate Brazilian practices considered disadvantageous to American trade.
Among the topics listed are electronic payment services and digital policies.
The Brazilian government responded in August with a 91-page document defending the neutrality of the Pix model and contesting allegations of discrimination.
The Central Bank has publicly reinforced that does not compete with the market, but it offers open public infrastructure, which, according to official assessments, competition increases.
Second Attila IamarinoThe American inquiry is a sign of global relevance of Pix — and how a public, free, and ubiquitous system can function. puts pressure on tariff-based models.
He also commented that the success of Pix demonstrated the efficiency of a well-designed public infrastructure, as opposed to more expensive and less interoperable private arrangements.
Economic and social impact in Brazil
The adoption of Pix has changed the payment mix in retail and everyday life.
Research and official statements indicate that he surpassed cards and cash. as the preferred method in various situations.
In 2025, the Central Bank moved forward with the offering of recurring payments, known as auto pix, paving the way for installment plans and direct subscriptions.
As noted Attila IamarinoMassification brings challenges: Scams and frauds require ongoing responses. of banks, regulator and users.
Even so, the Net gain for inclusion, convenience, and cost. The public perception remains high, reflecting an advantage in safety and usability.
Beyond borders: where Pix is already appearing
Outside of Brazil, Pix does not operate as an international transfer between accounts, but traders in Portugal and France They already accept payments via Pix through local acquirers.
In these cases, the consumer pays in reais, the merchant receives in euros, and there is an automatic conversion.
In geopolitical terms, the BRICS They are discussing alternatives for payments between countries, reducing dependence on the dollar.
For now, these are initiatives of interoperability between national systems and the use of local currencies, still without a single platform.
What explains American “jealousy”?
To Attila IamarinoThe “little bit of envy” stems from the contrast: Brazil created a efficient public infrastructurewhile the US maintains private networks with unequal adoption and political obstacles.
He highlighted that Pix makes transactions cheaper, attracts new users e It stimulates competition. between banks and fintechs.
Finally, the American investigation tends to keep the topic on the international radar.
If the dispute results in unilateral measures, it should be referred to the WTO.
Regardless, Pix has already taught us one lesson: open and interoperable public infrastructure It can accelerate digitization and improve the user’s life without hindering private innovation.
It remains to be seen how many countries — and which ones — will choose to follow this path in the coming years, including the United States.
If you could change one rule in your preferred payment method today, what would be the priority: reducing fees, expanding interoperability, or strengthening protection against fraud?