We will create Pix Global

For the adoption of a new international payment system

I have enthusiastically followed the debate on the digitalization of financial relations for a long time. It was what motivated me ten years ago to present the first legislative proposal for the end of cash in the country, Bill 48/2015, which proposes to 'extinguish the production, circulation, and use of cash and determines that financial transactions are conducted only through the digital system.'#BNBATH900

It was after this that Brazil created Pix, the most successful financial technology used in a country. It eliminated fees and promoted greater inclusion. I followed the process of its creation through a Request for Information (RIC), which was answered in 2018 by the Central Bank, informing that it had created a working group that studied the parameters of our digital currency.#

Pix became so popular that it even troubled the government of the United States. In recent attacks against Brazil, they complained about alleged damages that Pix causes to their companies, such as Visa and Mastercard. It was one of the reasons cited by President Donald Trump to impose severe tariff sanctions. But they are also scared of our participation in an international effort to develop independent payment systems that can replace the traditional networks dominated by Washington, such as Swift, which connects correspondent banks worldwide.

Once considered invisible infrastructures, today's financial networks have become instruments of power and geopolitical dispute, especially for controlling international transactions and the economic sanctions that can be imposed through them. The dependence on the dollar as the world reserve currency reinforces this position of hegemony, limiting the sovereignty of countries.

To confront this scenario, Brics is advancing with projects aimed at creating a new architecture for international payments. In addition to Brazil's Pix, countries like China, Russia, and India have also developed similar infrastructures – UnionPay, Mir, and RuPay – ensuring greater autonomy in their internal systems.#BTC

Now comes the Brics Pay project. A model inspired by Pix, as if it were its global counterpart, which provides for an international digital payment platform based on blockchain, capable of conducting transactions in local currencies without going through the dollar or centralized networks. Moreover, the Brics plan includes the development of CBDCs (Central Bank Digital Currency), which are sovereign digital currencies managed by central banks. They will allow fast, secure, and low-cost cross-border transactions.

Brazil plays a prominent role in this strategy with Drex, a wholesale CBDC aimed at transforming the settlement of financial operations and facilitating international trade through its own digital currency. Drex will enable banks and companies to conduct transactions in their local currencies in real-time, eliminating intermediaries. With integration to CBDCs from other countries, an international payment network that is more autonomous, attractive, secure, and less vulnerable to sanctions is created. This would strengthen Brazilian sovereignty and our country's prominence on the global stage, as well as reduce costs and expand international business.

The benefits of this system include lower transaction costs, greater speed, increased security, and greater autonomy for exporters, importers, and governments. Countries currently facing sanctions can negotiate more freely, diversifying their trade routes and strengthening economic sovereignty. In addition to reducing vulnerability to external control, the initiative enhances financial integration among the Brics nations and other partners, promoting a new logic in international trade exchanges.$BTC