El Salvador launches remittance app Sivar on Base network with a fixed $2 fee.
46 minutes ago
According to official announcements, the Salvadoran government has partnered with Modveon to launch Sivar, a government-backed remittance application. Built on Coinbase’s Base network, Sivar allows Salvadorans to easily send and hold digital U.S. dollars, with a focus on cross-border remittances. It marks the first nationwide deployment of Modveon’s proprietary "Verification Operating System", integrating identity verification, community services, institutional services and payments into a single trusted app, with core fund flows supported by Coinbase’s infrastructure. Users can top up transfers directly via debit cards through Coinbase Onramp, and each receives a non-custodial wallet within the app; peer-to-peer transfers between verified users are powered by Coinbase API, with transactions settled in stablecoins on Base, enabling fast, low-cost value transfers. After a transfer is completed, recipients can cash out at over 1,000 locations across El Salvador. The flat fee is $2 regardless of transfer amount, making it one of the lowest-cost options in the U.S.-El Salvador remittance corridor.
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