Modveon and Coinbase Launch Low-Cost Stablecoin Remittances in El Salvador

During Tuesday’s session, technology firm Modveon brought Sivar to market. It is a community and payments app that will integrate Coinbase’s infrastructure to settle cross-border transfers using stablecoins on the Base Layer-2 network. Through this tool, Salvadorans residing in the United States will be able to send remittances using debit cards with a flat fee of two dollars, while recipients will receive the assets in integrated non-custodial wallets or withdraw cash at more than 1,000 authorized physical locations.

This strategic rollout directly targets El Salvador’s remittance corridor, which moved nearly $9 billion in 2025. Although the country maintains Bitcoin as a state strategic reserve and a financial identity tool, the everyday payments ecosystem is advancing toward the use of digital dollars, eliminating the impact of exchange rate volatility for more than 1.6 million people dependent on these family capital flows.

With more than 25,000 pre-registered users, the platform will begin its open operational phase to challenge traditional money transfer operators. The next step will measure the actual traction of stablecoins against cash, cementing blockchain networks as efficient rails for monetary settlement across Latin America.

Source: https://www.coinbase.com/en-ar/blog/modveon-and-coinbase-bring-instant-low-cost-remittances-to-sivar-el-salvadors-new-trusted-community-and-payments-app

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