El Salvador Backs Sivar Digital-Dollar App Using Coinbase’s Base Network

El Salvador is backing Sivar, a new app for sending and holding dollar-backed stablecoins. Modveon, a Palo Alto startup, developed the app with payments running on Coinbase’s Base network. The project targets Salvadorans and remittances, with Coinbase saying Sivar can send money from the United States to El Salvador for a flat $2 fee.

The launch comes after El Salvador reduced Bitcoin’s role in everyday payments. Reforms tied to the International Monetary Fund program made Bitcoin acceptance voluntary and shifted operational control of the government’s e-wallet to a private operator. Meanwhile, crypto wallets accounted for less than 1% of El Salvador’s family remittances in 2026, according to central-bank figures cited in recent reporting.

Sivar represents a move toward stablecoin-based payments rather than Bitcoin for routine money transfers. However, public information does not yet identify the specific stablecoin or provide evidence that the wallet is fully live nationwide.