El Salvador Partners with AlphaPoint to Develop Chivo Public Wallet – Bits Media

El Salvador Partners with AlphaPoint to Develop Chivo Public Wallet, engaged in the development of cryptocurrency software, engaged in the development of cryptocurrency software.

AlphaPoint co-founder and CEO Igor Telyatnikov told, what the company signed an agreement with the administration of Salvadoran President Nayib Bukele (Here's to watching) back in December. According to the statement, AlphaPoint is developing, and also fixes bugs in the government wallet software. Previously, residents of El Salvador complained about missing assets from Chivo wallets.

Developers are working on the Chivo mobile application, infrastructure for accepting cryptocurrency payments, portal for store owners and points of sale, software development for support staff and administrative console. Telyatnikov emphasized, that “most of the complaints” about the functioning of the wallet came before AlphaPoint began operating.

Also, the CEO of AlphaPoint said, that the company applied to provide infrastructure and software for the Chivo wallet even before the launch of the project, however, the El Salvador authorities chose Athena Bitcoin. Looks like, that a large number of complaints and problems with the wallet forced the country's government to terminate the contract with Athena Bitcoin. but, there have been no official statements on this matter.

According to Bukele's post on Twitter, The number of Chivo wallet users in El Salvador has exceeded 4 million people. At the same time, the total population of the country is 6.5 million people, including children.

Earlier, IMF representatives stated, that the Chivo wallet needs tighter and better oversight from regulatory authorities.