PIX and Stablecoins Are Not Rivals, Says Visa’s Digital Currencies Chief for Latin America

Stablecoins did not arrive to fight PIX. That was the message from Antônia Souza, Visa's Director of Digital Currencies for Latin America and the Caribbean, on Latam Desk, the BeInCrypto podcast hosted by Luis Magalhães, the company's regional lead. "We are stable coins are not here to fight against PIX", she said, pushing back on a framing that has become common across the region.

In her view, the two serve different jobs. PIX is built for real-time everyday payments, while stablecoins are meant for cross-border flows, such as sending money abroad or storing dollars more easily. She noted that Visa has been developing the Visa Connector, a payment initiator that helps initiate PIX transactions, precisely because the company sees the instant-payment rail and the stablecoin rail as complementary rather than competing.

The exception, Souza said, is countries without a massive instant-payment system. In Colombia, a peso-backed stablecoin is helping people make instant payments because they lack a solution on the scale of Brazil's PIX. Elsewhere, she stressed, most stablecoin activity runs on USD stablecoins and is focused on cross-border transactions, not daily routine spending.

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