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Alphapoint has begun the process of rectifying problems with the Chivo Wallet in El Salvador.
Complaints of errors have haunted the state-run digital wallet that currently supports only bitcoin, with many users taking to social media to register their frustration.
Reports claim the White label crypto software firm has now seized control of the wallet’s front-end and back-end programming interface, following an agreement with the authorities and direct approval from President Nayib Bukele himself.
AlphaPoint’s co-founder and CEO Igor Telyatnikov revealed that the pact between his company and the El Salvadoran government was sealed in December but the news was concealed until now.
El Salvador launch revamped Chivo Wallet
After the series of corrections and repair works by AlphaPoint on Chivo wallet, El Salvador has now relaunched the updated version, which serves around 5 million citizens. For the records, El Salvador is home to 6.5 million people, meaning that Chivo wallet is being used by over 90% of the country’s population.