Less than a month after criticism of US President Donald Trump’s PIX, Central Bank President Gabriel Galipolo went out in defense of the instant payment system and classified the tool as a strategic for Brazil.
During participation in the Blockchain.Rio event on Wednesday (6), in Rio de Janeiro, Galipolo lamented the false narratives that have been built around the Pix and highlighted the advances promoted by technology, especially in relation to financial inclusion.
According to him, the BC instant payment tool contributed to expand the population’s access to the country’s bank infrastructure, with more than 858 million registered keys and about 250 million transactions per day.
“Unfortunately, we are at a time where 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.
On July 15, the United States announced a commercial investigation against Brazil that includes Pix.
The Office of the US Commercial Representation (USTR) has stated that it will investigate whether Brazilian practices linked to digital trade and preferred tariffs are “irrational or discriminatory” and impose barriers on American trade.
In counteracting the thesis that the PIX would have caused banks damage, Galipolo presented data that pointed out precisely the opposite: between 2020 and 2024, transactions with credit cards grew 20.9%, compared to 13.1% in the previous period, from 2009 to 2019.
“Prepaid debit cards and, in particular, credit, have a higher 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,” said the BC president.
