El Salvador president, Nayib Bukele, says that 2.1 million citizens are already using the new government-backed Chivo crypto wallet after the country adopted Bitcoin as legal tender on September 7.
President Nayib Bukele shared the news on Saturday with his 2.9 million followers on Twitter, claiming that Chivo “now has more users than any bank in El Salvador” after only three weeks. In addition, he said that it will not be long until Chivo will have more users than all banks in the country combined.
2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads).
Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have more users that ALL BANKS IN EL SALVADOR combined.
This is wild!#Bitcoin
— Nayib Bukele
(@nayibbukele) September 25, 2021
https://platform.twitter.com/widgets.js
The Chivo wallet launched in the beginning of September when Bitcoin was officially recognized as legal tender. El Salvador individuals and businesses can now send and receive payments in Bitcoin (BTC) or dollars (USD) from anywhere in the world. The “Bitcoin Law” in El Salvador dictates that merchants in the country are obliged to offer the ability to use both BTC and USD.
When Bitcoin was made legal tender and the Chivo wallet launched, Salvadorans were given $30 in BTC by the government when they would download the application.
Chivo is available on both Android and Apple devices and cryptocurrency exchange Bitso is the service provider for the wallet. In addition, the country has more than 200 Bitcoin ATMs, the third largest number following the United States and Canada.
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Source: Igaming
