Brazilian central bank to launch instant payment system to deal with cryptocurrencies

According to CoinDesk, the Brazilian central bank will launch a new payment system, PIX, which will provide 24/7 payment services through mobile applications, Internet banking and ATMs within 10 seconds. The central bank's governor, Roberto Campos Neto, said at the launch of the system that the PIX was developed to address new digital payment methods such as cryptocurrencies.