Linguard Labs Acquires Majority Control of El Salvador's Chivo Wallet Under IMF Program

California-based fintech firm Linguard Labs has acquired majority control and operational oversight of El Salvador's state-backed Chivo wallet through a public-private partnership, while the government retains a minority stake. The restructuring satisfies conditions tied to El Salvador's 40-month, approximately $1.4 billion International Monetary Fund arrangement. The platform's revamp targets over 4.5 million registered users with zero-fee remittances from the U.S., microloans, cashback debit cards, and payments in Bitcoin, U.S. dollars, and stablecoins. Crypto-based remittances currently represent less than 1% of El Salvador's $5 billion annual remittance volume.