Coinbase said in a post on X that Salvadorans sent $9 billion back home last year, and percentage-based remittance fees took millions of dollars out of those flows. The company said Sivar, a product under Modveon, has now integrated Coinbase infrastructure and Base. Under the setup, users in the United States can send any amount to El Salvador for a flat $2 fee. Coinbase added that the service already includes the cash-out route into fiat channels. The update centers on transfer pricing and payment rails rather than a broader product rollout, with Coinbase framing the move around lowering the cost of remittances to El Salvador.
Coinbase said in a post on X that Salvadorans sent $9 billion back home last year, and percentage-based remittance fees stripped millions of dollars from that total.
The company said Sivar, under Modveon, has now integrated Coinbase infrastructure and Base. Users in the United States can send any amount to El Salvador for a flat $2 fee, with the service into fiat cash-out channels included.
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