The United States has opened a formal investigation into Brazil’s digital trade practices, placing the country’s state-run Pix payment system under scrutiny.
Officials in Washington are concerned that Pix — now the dominant payment method in Brazil — is 93869 American firms like Visa, Mastercard, and U.S.-based fintech players.
Pix, launched by Brazil’s central bank in 2020, has transformed local finance with instant, low-cost transfers, now used by over 150 million people and accepted by more than 60 million businesses. But its success has raised alarms in the U.S., where officials say it may be creating unfair conditions for American tech companies.
The probe also points to broader political frictions, including Brazil’s temporary suspension of Elon Musk’s social platform X last year. Former President Donald Trump recently escalated the situation, threatening 50% tariffs on Brazilian goods and calling out Brazil’s judiciary for prosecuting Jair Bolsonaro.
The concerns go beyond digital payments. As a key BRICS member, Brazil has backed moves to sidestep the U.S.-led financial system, including support for cross-border local currency payments and discussions around a shared reserve currency.
Crypto platforms like Truther have begun using Pix rails to settle stablecoin transfers, bypassing SWIFT and U.S. remittance services entirely — a shift that’s being watched closely in Washington.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/u-s-targets-brazils-pix-system-in-rising-fintech-tensions/