"The Governing Council of the European Central Bank (ECB) has approved initiating an assessment of the feasibility of interlinking the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform with Brazil’s fast payment system, Pix. In collaboration with the Central Bank of Brazil, the ECB will explore the potential for interlinking TIPS and Pix by assessing technical, operational, legal and business considerations. An interlinking of the two payment systems could facilitate faster and lower-cost instant payments."