El Salvador Launches Sivar App for $2 USDC Remittances

- 25,000 Salvadorans pre-register as nation pivots to stablecoin-powered transfers - Sivar enables low-cost U.S.–El Salvador remittances via Coinbase's Base and USDC 2026-09-29(YYYY-MM-DD) On September 29, 2026, Cryptopolitan reported that El Salvador launched Sivar, a new remittance and identity app built by Modveon and powered by Coinbase’s Base infrastructure. The report stated that Sivar allows U.S.-based senders to transfer funds to verified recipients in El Salvador using USDC stablecoins, and the app charges a flat $2 fee per transaction, thereby streamlining cross-border payments and reducing transfer costs. According to Cryptopolitan on September 29, 2026, the rollout follows amendments to El Salvador’s Bitcoin Law in January 2025 under International Monetary Fund (IMF) guidance. The government shifted the nation’s focus away from Bitcoin remittances, and Bitcoin acceptance for payments became voluntary while BTC tax payments were eliminated. In addition, adoption for remittances via Bitcoin reportedly never surpassed 1%, and now USDC serves as the core asset for transfers conducted on Coinbase’s Base network. As a result, this change reflects El Salvador’s push to modernize financial inclusion through stablecoins. Cryptopolitan further reported on September 29, 2026, that more than 25,000 Salvadorans pre-registered for Sivar before launch, underscoring demand for affordable digital remittances. Therefore, Sivar’s introduction signals a broader policy change and positions El Salvador at the forefront of stablecoin-driven financial solutions in Latin America.