According to Odaily, data from the Central Reserve Bank of El Salvador indicates that since October 2024, cryptocurrency remittances have accounted for less than 1% of the total remittance volume to the country. Despite President Nayib Bukele's assertion that traditional financial institutions charge up to 25% in fees for remittances, and the official digital wallet Chivo offering zero fees, cryptocurrency remittances have not gained widespread adoption among the dollarized population of El Salvador. In line with an agreement with the International Monetary Fund (IMF), the Salvadoran government plans to terminate or sell the operations of Chivo and revoke Bitcoin's status as legal tender to reduce its influence in the national economy.