The Pix is strategic and should remain under public management, said the president of the Central Bank (6), Gabriel Galipolo. In an event focused on the crypto sector in Rio de Janeiro, he stated that false narratives seek to harm one of the most important infrastructures in Brazil.
“Pix proves to be a strategic and critical infrastructure for the country. It is a security for the country that it can be managed and run by the Central Bank,” he said.
For galipolle, Maintenance of PIX public administration is important to prevent conflicts of interestif the system were managed by private companies.
“It is very important that Pix remains and will remain a digital public infrastructure that was developed by the Central Bank. If we had any kind of pixe manager, do you imagine the conflicts of interest that we could have every decision to include or remove a new participant from the system?”, Commented the BC president.
GALIPOLO lamented that the instant transfer system in operation since 2020 has become the target of fake news. “Unfortunately, we are at a time when things are often complex to understand and they are captured by some kind of debate where versions can often be more interesting than facts,” he said.
Financial inclusion
The president of the BC highlighted the social advances promoted by Pix. He stressed that the tool facilitates financial inclusionby expanding the population’s access to bank infrastructure. Currently, Galipolo stressed, PIX has 858 million registered keys, with 250 million daily transactions, on average.
The BC president denied any rivalry between Pix and other means of payment. According to him, the tool is not causing losses to banks because transactions with credit and debit cards have increased more in recent years than they grew before Pix.
“Prepaid debit cards and, in particular, credit have a greater growth rate than before the advent of Pix. Which eliminates any idea of rivalry or that one would be cannibalizing the other from some logic that can try to be presented,” he said.
From 2020 to 2024, the number of credit card transactions rose 20.9%. In the previous ten years, From 2009 to 2019, the growth rate was 13.1%.
Investigation
Since last month, Pix has been included in the commercial investigation of the United States against Brazil. Through the US Commerce Representative Office, Donald Trump’s government has asked Brazil to clarify whether the Pix imposes barriers on trade and to US financial institutions.
The agency wants to investigate whether Brazilian practices linked to digital trade and preferred tariffs are “irrational or discriminatory”. For the office, Brazil can undermine the competitiveness of US commerce companies and electronic payment services.
