chivo

Chivo is the Spanish word for “goat.” In addition to its literal meaning, the term has been adopted as a proper noun in different contexts, most notably as the name of a government-backed cryptocurrency wallet in El Salvador.

Chivo Wallet refers to the official digital wallet launched by the Government of El Salvador in September 2021 as part of the country’s move to recognize Bitcoin as legal tender alongside the U.S. dollar. The program was introduced under President Nayib Bukele and sought to promote Bitcoin use for everyday transactions, government services, and financial inclusion across the population.

The wallet is designed to allow residents to store and transfer both Bitcoin and U.S. dollars, make payments to merchants, and convert between BTC and USD within the app. It is accompanied by a network of official Bitcoin ATMs and was marketed with incentives, including a sign-up bonus in Bitcoin to encourage adoption. Users can access the service via mobile devices, and the system is integrated with the country’s broader Bitcoin strategy, including regulatory and infrastructural aspects.

Reception to the Chivo Wallet has been mixed. Proponents argue that it expands financial inclusion, reduces cash reliance, and drives innovation. Critics have raised concerns about the volatility of Bitcoin, the use of public funds for incentives, privacy and security risks, and uneven merchant adoption. The program has undergone ongoing scrutiny and debate within El Salvador and in international commentary, reflecting broader questions about the practical implications of a nationwide Bitcoin rollout.