microloans

Linguard Labs is a financial technology infrastructure company headquartered in California, USA, founded by former Visa Head of Mobile Innovation Drew Weinstein, with former JPMorgan Global Chief Architect John Davies serving as Chief Technology Officer. Linguard Labs has acquired majority control of the Salvador Chivo wallet and announced the relaunch of the wallet through a public-private partnership.The Salvadoran government transferred the relevant majority stake under the guidance of the International Monetary Fund (IMF). The new Chivo will provide microloans and cash advances based on users' income, payment, and spending records within the wallet, and merchants can also apply for cash advances for business expansion, targeting unbanked and underbanked populations. The new program also includes fee-free remittances from the United States to El Salvador, as well as a debit card that supports cashback, allowing users to spend at merchants that do not yet accept cryptocurrency payments. Chivo currently has over 4.5 million registered users.

According to Coindesk, Brazilian fintech company Tanssi is launching a government-supported blockchain project. The project is backed by the São Paulo city government and provides quick loans of up to 15,000 reais (approximately 2,800 USD) to small rural producers. The service will be launched next month, and its mobile application is already online.The project utilizes a blockchain infrastructure built on Tanssi's technology, allowing for predictable transaction fees and reliability without relying on public blockchains like Ethereum or Solana.