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El Salvador plans stablecoin remittances through new Sivar app
The Sivar rollout uses Coinbase infrastructure on Base, and users in the US can fund transfers with debit cards.
El Salvador is moving remittances toward stablecoins with the launch of Sivar, a national community and payments app developed by Modveon, according to a Sept. 29 announcement cited by CryptoSlate.
Sivar will settle transfers in stablecoins on Base using Coinbase infrastructure, while US users can fund transfers with debit cards and recipients in El Salvador receive funds through wallets embedded in the app.
The rollout is framed as an evolution for a country that made Bitcoin legal tender in 2021, as dollar backed tokens are increasingly used for everyday payments even as El Salvador continues to promote Bitcoin, the outlet said.
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