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Brazil’s Central Bank Announces New Instant Payment Platform To Challenge Cryptocurrencies

by CBDC Insider Staff
February 27, 2020
in Business, South America
Reading Time: 1min read
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Brazil’s Central Bank Announces New Instant Payment Platform To Challenge Cryptocurrencies
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The Central Bank of Brazil is working on a new payment system for instant payments, to compete with crypto.

Brazil’s central bank, Banco Central do Brasil (BCB), is working on a new instant payment platform, to compete with the growing popularity of the cryptocurrency sector. According to a recent press release, the platform will be launched in November.
The new system is dubbed the Brazilian Instant Payment Scheme (PIX) and will support all transactions, whether personal or business. It will allow peer-to-peer and business-to-business transactions.

Continue reading: https://kryptomoney.com/brazils-central-bank-announces-new-instant-payment-platform-to-challenge-cryptocurrencies/

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