FB pixel

AlphaPoint and Chivo partner on biometrics-enabled national Bitcoin wallet for El Salvador

AlphaPoint and Chivo partner on biometrics-enabled national Bitcoin wallet for El Salvador
 

National crypto wallet Chivo and the El Salvador government have partnered with white label exchange infrastructure provider AlphaPoint for services including biometric authentication.

The country adopted Bitcoin as a legal tender in September 2021, and launched the Chivo wallet to facilitate cryptocurrency transactions.

A number of companies and government institutions in El Salvador already accept Bitcoin with Chivo as a form of payment, and a number of Bitcoin ATMs are being deployed across the country.

To support the shift toward wider cryptocurrency adoption, the Salvadoran government and Chivo have now partnered with AlphaPoint, which will support the frontend and backend infrastructure behind the wallet.

This includes the Chivo mobile application, the mobile point-of-sale processing devices, the merchant website portal, the call-center support software, and various administrative consoles.

“El Salvador and President Bukele are truly leading globally with the first major adoption of Bitcoin at a country-wide level,” says Igor Telyatnikov, Co-founder and CEO of AlphaPoint. “No one else has attempted to execute a project of this size.”

The integration reportedly focuses on wallet stability and uptime, scalability, and social impact. It also improves user verification capabilities by introducing a face biometrics option.

Additionally, AlphaPoint improved the wallet’s Lightning integration for nearly instantaneous low-fee Bitcoin transactions via QR codes and Lightning addresses.

“We at AlphaPoint are honored to be involved in the process and provide the scalable and reliable solutions needed for this massive undertaking,” Telyatnikov adds.

“The Chivo application is currently supporting millions of Salvadorans, many for their first time accessing financial services.”

This is not the first time AlphaPoint has supported the deployment of national projects with its technology. In 2019, the company was one of eight firms selected to participate in the UK’s Global Financial Innovation Network’s cross-border regulatory sandbox.

Related Posts

Article Topics

 |   |   |   |   |   |   |   |   | 

Latest Biometrics News

 

Digital identity leaders shepherd wallets into the mainstream

Discussion and debate at the European Identity and Cloud (EIC 2024) conference focused largely on how to achieve trust among…

 

Suprema, Strata Identity, Gunnebo gain security certifications

Recent certifications for Suprema, Strata Identity, Gunnebo and ISS reflect the broader industry trend towards stringent information security measures, ensuring…

 

Biometrics entering everyday activities via rising technologies

Biometrics underpin the new technologies that people will soon use on a daily basis for everything from payments to age…

 

Anticipation for Metalenz and Samsung’s answer to Face ID mounts

After Samsung and Metalenz collaborated to incorporate Samsung’s Isocell Vision 931 image sensor into Metalenz’s Polar ID imaging technology, Mashable…

 

Germany beefs up border security ahead of UEFA Championship

Germany has been ramping up security measures such as border checks and CCTV surveillance in preparation UEFA European Football Championship…

 

Inverid and Cybernetica team up to secure digital ID, signatures with biometric MFA

A new partnership has been formed by Inverid and Cybernetica to combine the NFC ID document-scanning capabilities of the former…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events