Haddad says PIX is Brazil's 'sovereign currency' and resists US pressure.

247 - During the meeting of the Sustainable Social Economic Development Council, this Tuesday (5), the Minister of Finance, Fernando Haddad (PT), strongly defended the PIX system, classifying it as the “first sovereign digital currency in the world”. The statement was made in response to international pressure, especially from North American multinationals, which were uncomfortable with the advancement of the tool developed in Brazil.

According to Haddad, PIX represents a state-sponsored technological innovation that has already crossed national borders. “We're not talking about crypto. We're talking about PIX. It's the digital currency whose technology is attracting the attention of several countries around the world,” he said. He emphasized that the tool, created by the Central Bank, is being adopted by neighboring countries, such as Argentina, and even by European nations, such as France.

'Sovereign technology' and no cost to the citizen - The minister emphasized the public and free nature of the system, vehemently rejecting any possibility of privatization. "We cannot even dream, think, or imagine privatizing something that has no cost to the citizen. It has no cost," Haddad stressed, highlighting the social impact of PIX.

According to the Finance Minister, the system allows for the financial inclusion of millions of Brazilians who have never had access to the traditional banking system. "It's a free technology that serves citizens at zero cost, a digital currency in the fullest sense of the word – it's better than using paper money," he said. He believes PIX promotes well-being and should not be subject to interference from private interests.

Resistance to international pressure - Haddad denounced the discomfort of foreign companies with the expansion of PIX and criticized the attempt to delegitimize an innovation that benefits the population. "They made money for decades with a technology they developed, and nobody was bothered by that. Because it guaranteed well-being for many people using credit cards," he stated.

According to the minister, the existence of an efficient, free technology controlled by the Brazilian state places the country at the forefront of the world, sparking resistance: “Now, because we have a free technology that serves the citizen at zero cost [...] are you going to challenge modernity that brings well-being to the entire population, that provides banking services to people who have never been to a bank branch? That is completely out of the question.”

Defending the role of the State Haddad's speech reinforces the role of the Brazilian State as a protagonist in the development of technological solutions geared towards the public interest. The minister reiterated that PIX is a symbol of sovereignty and modernity. Its international expansion and daily use among Brazilians demonstrate, according to him, the country's capacity to lead transformations that positively impact the lives of the population.