Portuguese 
English 
Spanish 
6 min of reading 
3 comments 
After 23 Years at the Central Bank, Carlos Brandt Takes His Experience with Pix to the IMF, a System That Transformed Brazil into a Global Reference in Instant Payments and Now Inspires Global Financial Policies
Carlos Eduardo Brandt spent over two decades at the Central Bank (BC) and became one of the most influential names in the digital transformation of the Brazilian financial system. Three months ago, he decided to leave the institution and the country, swapping Brasília for Washington, where he now works at the International Monetary Fund (IMF).
The move marks a new phase in his career, this time focused on sharing with the world the experience gained with Pix, the system that redesigned the way money is transferred in Brazil and became a global reference.
The Journey of a Public Servant Who Made History
A career at the Central Bank was almost a family legacy. Brandt’s father and grandfather also served at the institution created in 1964.
-
The largest food company on the planet, JBS, has just opened a 4,000 square meter laboratory in Florianópolis to develop customized proteins that modulate muscle mass gain, immune response, and metabolic performance.
-
After nearly 30 bids and competition among industry giants, a Spanish company purchases one of the largest airports in Brazil for almost R$ 3 billion and takes over the management of Galeão in a concession that will last until 2039.
-
The Federal Revenue Service now automatically cross-references everything you declare with data from banks, credit cards, brokerage firms, and insurance companies, and any discrepancy between your income and your expenses triggers an alert in seconds.
-
Amid global tensions, Brazil blocks the United States’ proposal at the WTO and paves the way for a trade crisis and possible retaliations.
During the 23 years he worked at the agency, it gained unprecedented prominence and became a central piece in the modernization of Brazilian finances.
In 2021, Brandt was recognized by Bloomberg as one of the 50 most influential people in the business world.
At that moment, Pix had just completed a year of operation and had doubled its user base, from 56 million to 113 million. The achievement drew international attention, making the system synonymous with innovation and efficiency.
The Impact of Pix in Brazil and the World
In just five years, Pix has established itself as the main payment method in the country. According to a study by fintech Ebanx, based on public data, the system currently has 161.7 million individual users and 16.3 million businesses.
During this period, R$ 85 trillion was transacted — equivalent to seven times the national Gross Domestic Product.
Moreover, Pix is now used more than credit cards, reaching 93% of the adult population. Projections for 2025 indicate that the system will reach 7.9 billion monthly transactions and will move R$ 35.3 trillion in a year, a growth of 34% compared to the previous year.
These numbers explain why the IMF invited Brandt to join its payments and market infrastructure team.
Since August, he has been collaborating on the development of policies aimed at modernizing financial systems in other countries and facilitating international transactions.
Pix as a Global Model
The IMF, best known for its loans and economic adjustment policies, also plays a technical and advisory role among its 191 member countries.
In this field, Brandt is now contributing with knowledge accumulated in Brazil to create instant payment solutions between different nations.
“My perception was that I could contribute to other countries and on a global scale”, he told BBC News Brasil.
His focus has been on eliminating barriers that hinder international transfers, such as currency fluctuations, regulatory norms, and security requirements.
Among the projects monitored by Brandt are the financial integration of the 16 countries in the Southern African Development Community (SADC) and the Nexus initiative from the Bank for International Settlements (BIS), which aims to connect payment systems across various countries.
Known as the “international Pix,” Nexus has already begun to be implemented in five Asian nations — India, Malaysia, the Philippines, Singapore, and Thailand.
New Digital Frontiers
Brandt’s work at the IMF also encompasses what are called central bank digital currencies (CBDCs).
They use technology similar to that of cryptocurrencies, but are issued and controlled by official institutions. The idea is to simplify transactions, reduce costs, and increase financial inclusion.
In a recent speech, Tobias Adrian, IMF director, highlighted that immigrants sending money to their families pay, on average, a 6.5% fee on each remittance.
“Part of the US$ 45 billion paid annually could go back into the pockets of the poorest”, he said, reinforcing the need for more efficient global payment systems.
The reduction of these fees, however, directly affects companies that profit from financial intermediation, including banks and large technology platforms. Thus, the expansion of models like Pix has generated international tensions.
The Brazilian Model and Its Autonomy
One of the central points that differentiates Pix is the fact that the system was developed and operated by the Central Bank itself, not by private companies.
This characteristic ensures independence and neutrality, in addition to protecting the public interest.
“To achieve a truly inclusive payment ecosystem, the most appropriate would be to have a neutral agent”, Brandt explains. “And the neutral agent par excellence is the Central Bank, which has no profit motive.
Other countries have taken different paths. In India, for example, the UPI system involves private companies, which has concentrated part of the operations in the hands of multinationals like Google and Walmart.
The Brazilian model, on the other hand, has strengthened the domestic market and ensured technological autonomy for the country.
Digital Public Infrastructure
The Brazilian experience also inspires the concept of “digital public infrastructure,” advocated by the UN since 2023.
The organization recommends that governments keep essential technological bases under public control, such as payments, digital identity, and health data.
Brazil has embraced the initiative and shared examples such as the new National Identity Card (CIN) integrated with gov.br and the National Health Data Network. Pix is part of this set of tools that ensures democratic access and transparency.
“Pix is a public good that society needs and cannot be dependent on a private solution”, Brandt states.
He emphasizes that various countries have adopted the same vision, recognizing the importance of public digital infrastructures for economic development.
Conflicts with Big Techs
Despite international success, Pix also faces resistance. In July, the U.S. government included the system in a list of trade practices to be investigated by the Office of the U.S. Trade Representative (USTR).
The measure reflects, according to analysts, the discomfort of big techs with the loss of space in the payments market.
Brandt, however, avoids controversies. For him, “public digital infrastructures are a win-win situation,” as the advancement of digitalization creates new opportunities even for private companies.
“Each government is free to form its own conviction”, he says, highlighting that the Brazilian Central Bank has always acted with a focus on public objectives and benefits to society.
Brazil as a Financial Laboratory
The success of Pix is not isolated. It integrates a broad ecosystem of financial innovation built by the country in recent years.
According to a report from the Valor Capital Group fund, Brazil is now a “global laboratory for digital finance.”
Besides Pix, the study highlights Open Finance — a system that allows the secure sharing of financial data between institutions — and gov.br, which unifies digital access to public services.
Together, these initiatives have created a robust technological base, expanding financial inclusion and strengthening the digital economy.
A Legacy of Transformation
The impact of Brandt’s work transcends numbers and borders. He symbolizes Brazil’s ability to innovate and export technological solutions with global reach.
By bringing his experience to the IMF, he amplifies the influence of the Brazilian model and helps shape the future of digital payments on a planetary scale.
Pix, which started as an initiative to simplify local transfers, has become a revolution that inspires the world.
And for Brandt, this is just the first step of a journey that continues to unfold — now at the heart of international finance.
With information from BBC.
Carlos Eduardo Brandt é um gênio. Ele deveria receber o prêmio Nobel de economia.
O PIX é uma criação que ocorreu com antecedência de 50 anos, no mínimo.
Se o Brandt continuasse no Banco Central, certamente esse banco seria o operador central do PIX Internacional, cobrando uma taxa muito inferior a 6,5% que são cobrados na transferência de remessa para outros países, o que aumentaria assustadoramente a receita do Banco Central, o qual, apesar de não ter fins lucrativos, teria esse recurso em um fundo monetário com a finalidade específica de atender projetos do governo de fins sociais.
Doutor Enéias também era e morreu no ostracismo e divorciado, se tivesse se tivesse se preocupado mais com ele mesmo teria tido um final de vida muito melhor e acredito que o inventor do pix aprendeu a lição olhando para os heróis do Brasil…
O Carlos Eduardo Brandt é um gênio. Ele deveria receber o prêmio Nobel de economia.
O PIX é uma criação que ocorreu com antecedência de 50 anos, no mínimo.
Se o Brandt continuasse no Banco Central, certamente esse banco seria o operador central do PIX Internacional, cobrando uma taxa muito inferior a 6,5% que são cobrados na transferência de remessa para outros países, o que aumentaria assustadoramente a receita do Banco Central, o qual, apesar de não ter fins lucrativos, teria esse recurso em um fundo monetário com a finalidade específica de atender projetos do governo de fins sociais.