Salvadoran Government Hands Over Control of Chivo E-Wallet to Private Operator

El Salvador has made significant changes to its Bitcoin strategy, according to an International Monetary Fund (IMF) confirmation. The country's public participation in its Chivo e-wallet has been reduced, and a private operator now holds majority ownership and operational control.

The government retains a minority stake and is responsible for holding customer assets. Documentation provided by El Salvador shows that the BTC acquired since the first review of its IMF program came from private donations, with no public funds used for purchases.

As part of its Extended Fund Facility arrangement, El Salvador has agreed to strengthen governance and risk management of crypto assets held by the public sector and update its digital-asset legal framework. The country's economy is expected to grow more than initially forecasted in 2025, with real GDP growth predicted at 4.5% this year.