Chivo Wallet will be taken over by former Visa and JPMorgan executives and will provide services such as micro loans Odaily Planet Daily News: Linguard Labs is a financial technology infrastructure company headquartered in California, USA, founded by Drew Weinstein, former head of mobile innovation at Visa, with John Davies, former global chief architect at JPMorgan, serving as chief technology officer. Linguard Labs has acquired majority control of the Chivo wallet in El Salvador and announced the reintroduction of the wallet through a public-private partnership. The Salvadoran government is transferring a majority stake under the guidance of the International Monetary Fund (IMF). The new Chivo will provide micro loans and cash advances based on users' income, payment, and consumption records in the wallet. Merchants can also apply for cash advances for business expansion, and related services are targeted at those who have not opened an account or have insufficient bank services. The new plan also includes free remittance fees from the United States to El Salvador, as well as debit cards that support cashback, allowing users to make purchases at merchants that do not yet accept cryptocurrency payments. Chivo currently has over 4.5 million registered users. （(Bitcoin.com) News）