Why PIX in Brazil Worries Washington but Wave in Senegal Does Not: Issues of Financial Sovereignty

The US administration is concerned about the rise of PIX, a payment system designed by the Brazilian Central Bank, seen as a strategic issue for control over financial infrastructure. In contrast, Wave, although impactful in Senegal, does not provoke similar diplomatic tension because it is a private company operating in a competitive market, unlike PIX which is a public infrastructure controlled by the Brazilian state. The article compares the two models and highlights that the underlying battle is about the ability of states to build their own payment networks independent of US private players.