El Salvador2026-09-29 23:18:43El Salvador Rolls Out Sivar, a $2 Remittance App Using Stablecoin Settlement on BaseEl Salvador’s government and startup Modveon have launched Sivar, a national remittance app that lets U.S. residents send money to verified recipients in El Salvador for a flat $2 fee, regardless of transfer size. The service runs on stablecoin rails over Base, the blockchain developed by Coinbase, while Coinbase also provides the payment infrastructure from onramp to payout. Users in the app receive non-custodial wallets, and recipients can cash out at more than 1,000 locations across the country. The launch was announced Tuesday. Modveon signed a five-year agreement with AAB, the Salvadoran public institution formally known as Agencia Administradora de Fondos Bitcoin, or Bitcoin Fund Management Agency. The contract took effect this month and gives Modveon responsibility for building and operating the app. AAB is also listed as one of Modveon’s investors. The Palo Alto-based company has raised $10 million, in a round first announced in February, with Coinbase Ventures and Firebolt Ventures among the backers. Sivar also includes identity-based social and civic features for Salvadoran users, who can verify with the national DUI card, post content, join district-level communities, and vote in polls. Modveon said more than 25,000 Salvadorans used the app during its phased rollout before the national launch.220
Coinbase2026-09-29 12:01:20Modveon’s Sivar plugs into Coinbase infrastructure and Base with $2 flat-fee transfers to El SalvadorCoinbase 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.240
El Salvador2026-09-29 10:47:15El Salvador to launch Sivar app for dollar-pegged stablecoins on BaseEl Salvador is working on a government-backed app called Sivar, according to Odaily. The project is being developed with Modveon and comes five years after Bitcoin became legal tender in the country. The app is designed to let residents send, receive, and hold dollar-pegged stablecoins over Base, the blockchain network developed by Coinbase. It will also support remittances, a key payment use case in the country. Odaily said user verification on Sivar will be handled through government ID checks. The report did not disclose a launch date or additional product details.230
