El Salvador Rejects Stablecoin Pivot Amid Growing Bitcoin Reserve

The government of El Salvador has announced that it will not pivot to a stablecoin despite its growing bitcoin reserve, which now stands at 7,790 BTC.

This decision comes after the launch of Sivar, a community and payments app by Modveon, in partnership with Coinbase, which will allow for low-cost stablecoin remittances in El Salvador.

The IMF had previously confirmed that El Salvador's bitcoin holdings have grown through private donations since June 2025, without using public funds.