Latin America has struggled with limited banking access and fragmented, costly payment systems. The region’s instant payment systems include Brazil’s Pix, Mexico's CoDi, El Salvador’s Transfer 365, and Bolivia’s QR BCB. My thinking has evolved. A more up-to-date view on the topic is available here: https://www.jeffalvares.com/post/what-brazil-s-pix-reveals-about-wto-rules-for-the-platform-economy https://www.jeffalvares.com/post/the-political-economy-of-brazil-s-pix-payment-s