El Salvador Launches Remittance App Sivar with Fixed Fee of $2

The government of El Salvador has partnered with Modveon to launch the remittance app Sivar, which is based on Coinbase's Base network and aims to facilitate cross-border remittances. Sivar marks the first nationwide deployment of Modveon's verification operating system, integrating identity verification, community services, and payment functionalities, with core fund flows supported by Coinbase's infrastructure. Users can recharge their transfers using a debit card through Coinbase Onramp and receive a non-custodial wallet within the app. Peer-to-peer transfers between verified users are powered by the Coinbase API, with transactions settled in stablecoins on Base, ensuring fast and low-cost value transfers. After the transfer, recipients can cash out at over 1,000 locations nationwide in El Salvador, with a uniform fee of $2, making it one of the lowest-cost options in the US-El Salvador corridor.

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