Modveon Unveils El Salvador’s Sivar App for Dollar Transfers on Base
- Published
Modveon said its Sivar app is live in El Salvador as a government-backed service for holding and sending dollar stablecoins on Base, including transfers between the U.S. and El Salvador. The app’s terms of service name Circle’s USDC as a supported stablecoin and describe self-custodial use. [18758] Sivar charges eligible US senders $2 per transfer and offers more than 1,000 cash pickup locations. Coinbase settles Sivar payments in stablecoins on Base. [26038]
Key claims & sources
What it means
People sending or receiving money through Sivar in El Salvador are the ones who notice this first, because the app is already live and includes transfers between the U.S. and El Salvador. The service is tied to cash pickup locations, so the practical touchpoint is not only the app itself but also the places where recipients can collect funds.
Compared with a plain wallet app, Sivar is presented as a government-backed service with USDC support and self-custodial terms, while payments are settled in stablecoins on Base. That means the working setup now includes both the app’s storage and transfer features and the Base settlement flow, rather than only one side of the transaction.
Market reaction i
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
The Coin Republic
adds
Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 39 days ago | Circle, Volante Bring USDC Workflows to Banking Payment Platform event | 2 actors in common · 4 news media |
| 40 days ago | Socure Brings AI Identity Checks To Circle’s Arc Onramp event | 2 actors in common · 3 news media |
| 42 days ago | Circle Mints $500 Million USDC on Solana in Six Hours event | 2 actors in common · 2 news media |
| 44 days ago | Circle launches Bitcoin-backed USDC borrowing for institutional clients event | 2 actors in common · 2 news media |
| 39 days ago | Franklin Templeton Brings Tokenized Collateral Service to Bybit event | 1 actors in common · 11 news media |