Modveon collaborates with Coinbase to launch Sivar application in El Salvador, supporting cross-border remittances between the United States and El Salvador

Modveon launches Sivar, a payment application for El Salvador that integrates with Coinbase's payment infrastructure, providing a low-cost channel for remittances between the United States and El Salvador. Sivar has a built-in non custodial wallet, and users can deposit funds using a debit card through Coinbase Onramp. Verified transfers between users are driven by Coinbase API, and funds are settled in stablecoins on the Base chain. Compliance users in the United States will charge a fixed fee of $2 per remittance to verified recipients in El Salvador, and Salvadoran recipients can withdraw at over 1000 offline branches in the local area.