Pix crosses borders: Brazil’s system reaches the US and eyes the online betting market
While Brazil is still debating the regulation of payments in iGaming, its greatest financial innovation is beginning to gain global traction — and the industry is paying close attention.
Last week, news stirred the behind-the-scenes of the betting and fintech industries: Pix has started being offered in the United States. Though still in its early stages, it is already being positioned as a payment option for online gambling platforms that serve Brazilian audiences. Although the rollout is being handled through intermediaries — involving currency conversion and indirect integration with the Central Bank’s system — the development marks an important step toward the internationalisation of a model that has already revolutionised Brazil’s financial landscape.
A successful case with Brazilian DNA
During BiS SiGMA South America 2025, the panel “Payment Landscape in iGaming: Challenges and Opportunities in the Era of Pix and Regulation” had already anticipated this trend. According to César Garcia, CEO of One Key Payment:
“If you look in the rear-view mirror, five years ago, Pix didn’t exist. Today, it’s become the standard. We’re seeing other countries trying to replicate the Brazilian model, and that says a lot about what we’ve built here.”
And it’s no coincidence. Pix has not only accelerated financial inclusion in Brazil — it has become the leading payment method in the national iGaming market. According to Leonardo Baptista, CEO of Pay4Fun:
“Today, more than 90% of iGaming transactions in Brazil are processed through Pix. It’s fast, secure, and delivers exactly what users in this segment are looking for: speed.”
Global opportunity with local challenges
News of Pix’s arrival in the US signals a new trend in the market: exporting home-grown financial solutions to tackle payment bottlenecks in more mature — yet less efficient — economies.
However, enthusiasm must be tempered. As Bruno Gonçalves, Sales Director Brazil and Mexico at OKTO, explained during the same panel:
“Pix is simple, but that doesn’t mean it’s free from compliance challenges. Once we start talking about international expansion, we need to consider traceability, currency conversion, and taxation — including the IOF.”
Two sides of the coin: Pix’s structural highlights and risks
When discussing the internationalisation of Pix, it’s important to highlight two key structural aspects that define its functionality:
Strength: transparency through traceability
One of Pix’s biggest strengths lies in its ability to provide detailed records of each transaction. Every movement is tracked with precise data — including amount, time, sender, receiver, and the financial institution involved — allowing full visibility of fund flows. This makes Pix a powerful tool in fighting money laundering, fraud, and tax evasion. Unlike less traceable methods such as cash or informal transfers, Pix offers complete financial transparency, aiding regulatory oversight and enhancing operational security for businesses.
Weakness: dependence on the Central Bank
On the flip side, Pix relies entirely on the infrastructure of Brazil’s Central Bank. Since the system operates in real time and is anchored to the Instant Payment System (SPI), any technical issues or outages at the Bacen level impact all participating institutions simultaneously. When the Central Bank stalls, Pix stalls — affecting banks, fintechs, retailers, and end-users alike. While this centralised model ensures efficiency and coordination, it also introduces systemic vulnerability.
And what about the IOF?
Although Pix remains free for peer-to-peer transfers within Brazil, its use as an international payment tool — even via intermediaries — involves currency conversion and, therefore, the levy of the IOF (Tax on Financial Transactions). With the government’s tax reform unifying rates in 2023 and implementing the changes in 2025, the IOF is now fixed at 3.5% for most international operations, including remittances and purchases abroad. This rate also applies to cross-border gambling-related transactions that involve currency exchange, even indirectly.
Is Brazil ready to lead?
Pix’s international expansion raises an important question: is Brazil ready to lead the future of global payments in the betting industry, while still finalising its own regulatory framework?
Meanwhile, countries like the United States — still lacking solutions as efficient as Pix — are beginning to test Brazilian innovation as a real alternative to unlock capital flows in high-volume sectors such as iGaming.
Pix is no longer just a technology. It is becoming an economic soft-power tool, and its role in the international betting market might be the next chapter in this success story.
