El Salvador denies plans for government-backed crypto wallet

The El Salvador Bitcoin Office has publicly denied reports that the government intends to launch or manage a new wallet for Bitcoin (BTC) or stablecoins. The office confirmed that the state's involvement in such platforms has concluded following the sale of Chivo Wallet to a private operator. The statement addressed a Bloomberg report claiming the administration was developing a 'Sivar' app to facilitate digital dollar remittances via the Coinbase Base network.