Pix shows greater proximity to connecting with the European instant payment system. The integration project with the TARGET Instant Payment Settlement (TIPS), which is an infrastructure of the European Central Bank (ECB), has progressed from the pre-investigation phase to the investigation stage. This transition suggests that initial studies did not identify critical barriers to the continuation of the initiative.
This news was disclosed in a document presented during a meeting of the TIPS Consultative Group, a group linked to the ECB responsible for debating improvements and tests on the platform. The meeting took place on October 20. According to the European Central Bank, the pre-investigation, conducted in September, analyzed operational, legal, and technical aspects, as well as the commercial viability of a potential link between the systems, without finding crucial impediments.
The new study phase aims to deepen the analysis to determine if the interconnection is economically and technically feasible, although there is still no established deadline for its completion. Sources close to the negotiations indicate, as reported by Broadcast, that the complete pilot project should be ready by the end of 2027.
In the same week the document was presented, Gilneu Vivan, Director of Regulation and Financial System Organization at the Brazilian Central Bank, visited Frankfurt, Germany, to discuss potential integration with ECB representatives. Thiago Cavalcanti, president of the National Association of Auditors of the Brazilian Central Bank (ANBCB), explained to Folha de S.Paulo that this possibility implies costs that must be transparent to the consumer, and the exchange rate will be a key factor for the service's competitiveness.
In addition to in-store transactions, the Brazilian Central Bank informed that the connection between instant payment infrastructures can also speed up international remittances, allowing funds to be credited in local currency in a few seconds.
TARGET Instant Payment Settlement (TIPS) is an Eurosystem infrastructure designed to process real-time payments, functioning similarly to Pix in Brazil. The platform allows partner financial institutions to offer continuous transfers, 24 hours a day, every day of the year, with final and irrevocable settlement directly in central bank currency. Currently, TIPS operates with euros, Swedish kronor, and Danish kroner, and already supports operations between these currencies, such as allowing a Swedish buyer to use their local currency in a Eurozone country, a feature available since October 2025.
The potential integration with Pix is part of a broader ECB strategy to link its infrastructure to instant payment systems in other regions, including interconnection projects with India and Switzerland, in addition to participation in the international Nexus network. Despite this advance, there are still important phases before any implementation.
Information obtained by Folha in September revealed that nine sectors of the Brazilian Central Bank were mobilized to define governance guidelines and verify compatibility between the platforms. The studies also need to consider expected demand, potential transaction volumes, the sustainability of the operating model, and implementation costs.
At that time, preliminary estimates from technicians indicated that the integration corridor could be technically operational in November 2027, with a pilot project scheduled for June 2028; however, these schedules depend on future evaluations and approvals from both central banks. The connection also represents an advance in the internationalization of Pix, which currently has international transaction initiatives through agreements between financial institutions in countries such as Argentina, the United States, and Portugal. However, the proposal with TIPS focuses on creating a direct link between the payment infrastructures, expanding global operation options.


