Business · Companies · 3 hrs ago

Brazil’s Central Bank orders liquidation of payment institution in Joinville

Brazil’s Central Bank orders liquidation of payment institution in Joinville

Brazil’s Central Bank ordered the liquidation of a payment institution based in Joinville.

The institution operated behind the scenes of Pix, Brazil’s instant payment system.

The Central Bank said it had found serious violations at the firm.

The order is an extrajudicial liquidation, a formal process to wind down an institution.

The decision puts the company’s role in supporting Pix under scrutiny.

The liquidation process has been ordered, but no further steps are specified.

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