Tony Ristovski’s Post

The potential impact of #PIX 📈 Developed back in 2020 by the Brazil Central Bank (BCB), Pix has become one of the most used money-transfer systems in the country. 📌 Allowing 24/7 instant transactions, between individuals, business and government entities, Pix has already reached its goal for efficient, secure, and cost-effective method of conducting financial transactions. Besides, Pix has helped Brazil strengthen its financial inclusion and, more importantly, modernize the country’s payment infrastructure. But Pix doesn't stop here! ⬆️ Gaining Global Attention ↪️ The Brazil Central Bank is actively working on exploring bilateral agreements to connect Pix with other platforms worldwide. Creating ‘Pix International’ ↪️ As Pix grows, BCB has had to find solutions to give Brazilians the opportunity for international financial services, maintaining the high-quality service they provide domestically. The Nexus Project ↪️ The Bank for International Settlements (BIS), had joined the vision and started developing the so-called ‘Nexus Project’ which aims to connect instant payment systems like Pix across different countries. Now, what will be the impact of this revolutionary system? 🧐 💡 Breaking the Banks Monopoly By launching these projects, the money-transfer monopoly will be broken, and they'll be pressured to face the challenges and devise solutions to adapt to the new financial ecosystem. 💡 Low Money-Transfer Costs Besides other perks, these systems are designed to lower the money-transfer costs, especially for transfers between individuals, both locally and globally. 💡 Expansion of the Cross Border Trades The transfer speed will ease and speed up the development of cross-border trade. What are your thoughts on Pix and its potential impact? #PIX #Brazil #businessgrowth #ecosystem #globalecosystem #finances #openbakning #payments #digitalpayments 

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How do you think Pix or similar systems will affect your business?

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