El Salvador relaunches state-run Chivo wallet after replacing tech provider

Latin American country El Salvador has now relaunched the state-run Chivo wallet after mending multiple issues reported by wallet users just a few months after its launch.

Soon after the Chivo wallet launch, more than 2.1 million El Salvadorans downloaded the app after the government offered $30 in BTC to each individual who endorses the wallet. The initiative was an attempt to lure the country’s citizens into embracing the legal tender.

Now, a relaunch came after hundreds of the country’s residents suffered massive issues after downloading the app, such as identity theft, disappearing funds, and other system issues.

To update the platform, El Salvador president Nayib Bukele has hired US-based financial technology provider AlphaPoint to change the frontend and backend infrastructure of the wallet. AlphaPoint and the Bukele Administration struck a deal in December last year but did not reveal the latest developments until Tuesday, crypto media outlet Coindesk reported.

According to reports, AlphaPoint has dispensed its technology to update Chivo’s mobile application, mobile point-of-sale processing, merchant website portal, call-center support software, and administrative console.