Modveon, the startup behind El Salvador’s new national payments platform, launched Sivar on September 29 with Coinbase providing the infrastructure for remittances. Eligible users in the United States can send money to verified recipients in El Salvador for a flat $2 fee, regardless of the amount. Transfers settle in stablecoins (digital tokens designed to maintain stable value) on Base, Coinbase’s network for the transactions. Users fund payments by debit card through Coinbase Onramp and receive a non-custodial wallet (a wallet whose keys are controlled by the user) inside the app, while Coinbase APIs support peer-to-peer transfers. Recipients can cash out through more than 1,000 locations across El Salvador, with crypto largely hidden from the user experience. Salvadorans abroad sent roughly $9 billion home in 2025, about 92% of it from the United States, supporting an estimated 1.6 million people. More than 25,000 Salvadorans registered before launch. Sivar is Modveon’s first national deployment of its Verified Operating System, which combines verified identity, communities, institutional services and payments in one app. Coinbase Chief Policy Officer Faryar Shirzad described the rollout as a test of whether stablecoin payment rails can reduce legacy remittance costs. The deployment adds a country-scale remittance corridor to Base as Coinbase expands stablecoin payments through initiatives with Citi and Mastercard.