Trump targets Brazil's payments system while dollar stablecoins are quietly overtaking country's payments
The U.S. government has invoked Section 301 trade authority to challenge Brazil's state-run Pix payment system, arguing that its mandatory free-to-use structure unfairly disadvantages American firms like Visa and Mastercard. Simultaneously, Brazil is grappling with the rapid adoption of dollar-linked stablecoins, leading to new regulatory restrictions aimed at protecting monetary sovereignty while the country develops its own tokenized settlement system, Drex.
The case marks the first time Washington has used Section 301, the trade authority traditionally deployed against issues such as intellectual property theft, subsidies and market access, to target a country's domestic payment system.
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