A "bitcoin wallet" must be an open source software where the user creates his own keys on his own device and doesn't need any middle man to send/receive bitcoin. The user directly connects to other peers on bitcoin peer to peer network and either does full verification of everything (ie. running a full node) or simplified verification (ie. using an SPV client) of necessary things.
Anything else is NOT a bitcoin wallet.

I don't have enough information to say which category "Chivo Wallet" falls into. The articles about it all focus on its features for converting between fiat and bitcoin, receiving bitcoin but converting it to fiat fast and easy and vice versa, and the $30 promotional giveaway. None of them mention the important things we need to know!