As we've already announced here in CapBlog, Brazilian Central Bank has announced, last February, the new bank transfers method that came to compete with the already existing "Ted" ("Available Electronic Transfer") and "Doc" ("Credit Order Document"), and even the popular 'Boletos' (bank slips). Such method will allow bank transfers to be instant and will be available 24 hours per day, every day.
On the new protocol, transfers are performed by reading a QRCode, which is something that the crypto community and users of digital banks already get used to do.
After the announcement, the Central Bank has made available a channel on which financial institutions that want to be part of the new network, from fintechs to traditional banks, could subscribe, wishing to be able to process Pix transactions for their customers.
Capitual, of course, didn't miss it out, and also subscribed as an indirect agent, through its new banking partner in Brazil, Acesso Bank. You can view Capitual's request, through its Brazilian partner entity Forteras, at Brazilian Central Bank website (position 190).
With the end of the first stage, the Central Bank is now disclosing, among the institutions that wish to be part of Pix, the guidelines that govern the new and modern protocol. The first step, which will take place on the next 22nd, will be a meeting with these institutions in order to define the implementation agenda. Following WHO guidelines, the meeting will be online.
Central Bank aims to make Pix available for Brazilian society in November.