Coinbase and Modveon have launched a low-cost stablecoin remittance service in El Salvador. This move aims to provide cheaper transactions for individuals sending money across borders.
The partnership between Coinbase and Modveon will utilize the USDC stablecoin, which is pegged 1:1 to the US dollar.
This development follows the recent adoption of Bitcoin as a legal tender in El Salvador by President Nayib Bukele.
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