El Salvador launched Sivar, a national payments app developed by Modveon using Coinbase infrastructure, to settle transfers in stablecoins via the Base network. The app targets a remittance corridor of $9 billion in 2025, with 92% originating from the United States, and will charge a flat fee of $2 per transfer. Roughly 1.6 million Salvadorans depend on these transfers, and recipients can convert their balance to cash at more than 1,000 withdrawal locations. Tether relocated its headquarters to El Salvador in 2025, while MoneyGram launched a USDC-based transfer service in the country. El Salvador holds approximately 7,789 BTC in its strategic reserve, but public purchases of Bitcoin have stopped under the IMF program.
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