If it’s based on Brazilian PIX tecnology, then this article was 100% paid by international banking that are pissed they aren’t getting a share from every transaction anymore… Trump actually put tariffs on Brazil because he claimed PIX to be unfair competition and harmful to American economy lol
https://restofworld.org/2025/pix-brazil-us-investigation-digital-payments/
Isnt there a bill or agreement that lets America bitch about foreign nations building their own thing and not using its tech or goods
General rule for thee except for me.
If only cheap and effective tech could also have disgustingly rich people bribing politicians to protect it. I remember cryptobros worrying about regulation, back before they got their bribery game sorted.
It isn’t until the very end of the article that they even bother to discuss the obvious approach to the fee on transactions – a flat rate fee. Like I know some of the flat rate fees in Canada are around $0.04 per transaction – no matter the dollar value of the transaction. Which is a huge profit margin, really, for banks – cause they’ll charge people like $3 if you’re not their customer at an ATM, even though your withdrawal only costs them $0.04-$0.10 in network fees.
