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El Salvador Rolls Out Stablecoin Remittance App Sivar with Coinbase Infrastructure

Guavy AI Editorial Team
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The startup Modveon has launched Sivar, El Salvador's new stablecoin remittance app. The platform allows eligible users in the United States to send funds to verified recipients in El Salvador for a flat $2 fee.

Transactions settle in stablecoins on Base, and transfers are powered by Coinbase APIs. Once complete, recipients can cash out through over 1,000 locations across El Salvador.

The deployment is a country-scale test of stablecoin rails and Coinbase payments infrastructure, which could cut fees and boost crypto adoption.

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