Key Insights
- El Salvador stablecoin app Sivar charges eligible US senders $2 per transfer.
- Coinbase settles Sivar payments in stablecoins on Base, with more than 1,000 cash pickup locations.
- The IMF says Chivo’s control shifted to a private operator and Bitcoin reserve growth came from donations.
El Salvador has launched Sivar, a state-supported app that lets eligible US users send digital dollars to verified recipients. The El Salvador stablecoin app charges $2 per transfer and settles payments on Coinbase’s Base network.
Modveon built the platform, while Coinbase provides its payment infrastructure. More than 25,000 Salvadorans signed up before launch, Coinbase said Tuesday.
The rollout puts remittances at the center of a new national digital service. Salvadoran families received nearly $10 billion from abroad in 2025, according to central bank figures. Sivar uses stablecoins for transfers, five years after the country adopted Bitcoin for payments. Its launch does not signal a sale of the country’s Bitcoin holdings.
How the El Salvador Stablecoin App Moves Money on Base?
A US sender can fund a transfer with a debit card through Coinbase Onramp. Each user receives a noncustodial wallet inside Sivar. Coinbase’s APIs route payments between verified users, while stablecoins settle transactions on Base. The blockchain process runs behind the app’s payment interface.
Recipients can withdraw cash at more than 1,000 locations across El Salvador, Coinbase said. The El Salvador stablecoin app charges the same $2 transfer fee regardless of the amount sent. Sivar says transfers within El Salvador are free. Its FAQ says the app displays any cash withdrawal fee before a user confirms the withdrawal.
The fixed fee takes a smaller share of a larger transfer. On $100, the $2 charge equals 2% of the amount sent. On $1,000, it equals 0.2%. Those calculations cover the advertised transfer fee; a recipient choosing cash pickup can check the withdrawal charge in the app.
El Salvador Stablecoin App Adds Identity and Local Services
Sivar combines payments with verified identity and community features. Users can verify their identity through El Salvador’s government login service and join groups linked to their address. The app also supports official announcements, local discussions, and polls. People without an identity document can explore parts of Sivar, according to its FAQ.
The El Salvador stablecoin app is a Modveon product, with Coinbase supplying payment tools. Modveon calls Sivar its first national deployment. Its website lists El Salvador’s Bitcoin Fund Management Agency among its investors. Sivar operates separately from Chivo, the country’s earlier public Bitcoin wallet.
For remittances, Coinbase says Sivar keeps the crypto process out of the user’s way. Senders fund a payment in dollars, and recipients can collect cash locally. The company has reported advance signups, but its launch announcement does not give a completed transfer count.
Bitcoin Policy Shifts as Sivar Targets the Remittance Market
El Salvador adopted Bitcoin as legal tender in September 2021, but everyday payment use stayed limited. In a 2024 survey, a university opinion institute found only 8.1% used Bitcoin to buy or pay for something that year. An IMF study put remittances sent through crypto wallets at about 1.75% of total transfers.
Policy changed under El Salvador’s $1.4 billion IMF lending program. Lawmakers made Bitcoin acceptance voluntary in 2025 and restricted tax payments to US dollars. This month, the IMF said Chivo’s majority ownership and operational control had passed to a private operator. The government retained a minority stake and custodial duties for customer assets.
The El Salvador stablecoin app enters that altered payments market while the country still holds Bitcoin. The IMF said documented reserve growth since its first review came from private donations, with no public funds used. It expects no further accumulation beyond those documented donations.
