El Salvador – the pioneering nation in classifying Bitcoin (BTC) as a legal tender – reportedly introduced its in-house crypto Chivo wallet again, to deal with current obstacles associated with BTC transfers in the region.

Specifically, via the AlphaPoint integration, El Salvador reportedly expects the updated Chivo wallet to be able to facilitate instantaneous low-fee Bitcoin transactions, while at the same time offering viable solutions for stability and scalability-related concerns. 

Within the first month of rolling out BTC as a legal tender, President Nayib Bukele reportedly revealed that a total of 2.1 million citizens in the nation have downloaded the Chivo wallet, which took up 75% of the overall population by the end of 2021. 

Nonetheless, the mass adoption reportedly faced a significant number of hurdles, nominally system problems, and missing funds.

The El Salvador authority, in an attempt to fix the issue for more than 4 million BTC users for good, has reportedly teamed up with a white label infrastructure provider, AlphaPoint, to concentrate intensively on Chivo wallet’s stability and uptime, scalability, and social impact.

Per an official statement, Chivo reportedly has intentions of widening the scope of the current consumer-faced use cases to cover other daily transactions, nominally via making payments of home utilities, taxes, and many other daily transactions in Bitcoin more simple. 

“The project with aspirations to Chivo is also in the process of deploying 1,500 Bitcoin ATMs around the country to more readily serve the Salvadoran population.”

The most recent AlphaPoint integration will reportedly offer extra facilitating features for point-of-sale systems, websites, and the Salvadoran government’s administrative console. 

“El Salvador and President Bukele are truly leading globally with this first major experiment in Bitcoin adoption at a country-wide level. We are honored to be involved in the process and provide the scalable and reliable solutions needed for this massive undertaking.” Co-founder and current Head of AlphaPoint Igor Telyatnikov additionally remarked.