🔥PIX or Cryptocurrencies? 🔥
The Nobel Prize-winning economist Paul Krugman stated that Pix in Brazil has already achieved what cryptocurrencies have been trying to do for years: provide fast, low-cost payments with broad financial inclusion. According to him, about 93% of Brazilians use the system, while only 2% of Americans used cryptocurrencies for payments in 2024, highlighting the effectiveness of the Brazilian model. Krugman also pointed out that the U.S. Congress recently approved regulations for stablecoins but vetoed the creation of a central bank digital currency (CBDC), fearing state control over financial data. He believes that the United States is unlikely to adopt a system like Pix anytime soon due to strong private sector lobbying and the bet on crypto solutions, which he considers more fanciful than practical. The economist suggests that other countries should take inspiration from Pix's success, especially in light of the expected launch of Drex, the Brazilian digital currency that will complement the current system. (J Elias, Revista Veja, Jul 2025)
