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Brazil's Pix processes 6-7 billion transactions per month.
Venmo, CashApp, and Zelle combined don't come close.
India's UPI took six years and eight months to reach 8 billion monthly transactions.
Brazil got there in five.
170 million Brazilians use Pix.
That's 93% of the adult population.
Merchant fees average 0.33% (cards charge 2-5%).
Transactions settle in seconds.
On December 20, 2024, the system processed 252.1 million transactions in a single day.
That one day exceeds the entire monthly volume of most European instant payment systems.
Then they built Open Finance on top of it. 60+ million active data-sharing consents.
Four times the API volume of the UK's Open Banking.
Nubank (built entirely on this public infrastructure) now serves 110 million customers, posted $895 million in quarterly profit, and carries an $85 billion valuation.
The most valuable financial institution in Latin America was founded 13 years ago by three people with no bank.
The Fed launched FedNow three years after Pix. Adoption remains minimal.
The US has no Open Finance mandate.
No active CBDC pilot.
Brazil is two full technology cycles ahead of the United States in public financial infrastructure.
The next time someone tells you Brazil is a "risky emerging market," ask them if they know what Pix is.
Read more here:
x.com/drewcrawford_/…
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