Chivo Wallet

Chivo Wallet is El Salvador's government-backed application for Bitcoin and U.S. dollar balances. Operating as a public-private partnership, the service provides basic rails for everyday retail payments across both digital currency and traditional cash.

Corporate structure and leadership

In October 2026, California fintech infrastructure firm Linguard Labs acquired majority control of Chivo Wallet, while the Salvadoran government retained a minority equity stake under guidance aligned with International Monetary Fund recommendations. Drew Weinstein leads Linguard Labs. Formerly the head of mobile innovation at Visa, Weinstein founded the company, and John Davies, previously the global chief architect at JPMorgan, serves as its chief technology officer.

How the wallet works

It is a custodial system. Beyond basic peer-to-peer transfers, Linguard Labs operates the platform to support merchant checkout integrations, planned cashback debit cards for non-crypto merchants, and credit products like microloans or cash advances determined by in-app cash flow and transaction history.

Costs and availability

Payments run in Bitcoin and U.S. dollars. The service is tailored primarily to citizens, residents, and registered businesses in El Salvador.

Risks and custody trade-offs

Users hold neither private keys nor recovery seed phrases on the platform. Account balances depend entirely on the operational security and solvency of the operating entity, leaving users exposed to the counterparty risks typical of centralized financial applications where account access remains subject to regulatory oversight and platform controls.