SML - Local Currency Payment System


Brazil - Argentina


The SML is a payment system focused on commercial deals, which allows importers and exporters from Brazil and Argentina to make payments and receive them in their local currencies.

At the beginning it is used just in commercial good deals, including related services and expenses, such as freight and insurance.


  • Increase the access of small and medium-sized agents.

  • Allow foreign trade in local currency.

  • Strengthen the Real/Argentinean peso market.

  • Reduce the cost of transactions.


  • Voluntary use.

  • Exchange contract not required.

  • No change on foreign trade documents, except the export register that will be issued in reais.

  • Integration between the Brazilian payment system (SPB) and Argentinean payment system (MEP).

Responsible for implementing:

Specific legislation: