Coinbase powers Sivar remittances to El Salvador at flat $2 fee
Modveon's Sivar app runs on Coinbase payments infrastructure, settling stablecoin transfers on Base for eligible U.S. senders to verified recipients in El Salvador.
Source-checked briefing: prepared from the official notice cited below and checked for source, date, duplication, and risk language. No individual editor review is claimed. Methodology
Coinbase published a Sept. 29, 2026 post stating Modveon is using its payments infrastructure for Sivar, El Salvador's new community and payments app. Eligible U.S. users can send money to verified recipients in El Salvador for a flat $2 fee per transfer, funded by debit card through Coinbase Onramp, with transfers powered by Coinbase APIs and settled in stablecoins on Base. Recipients can cash out at over 1,000 locations. The source states no required action for Coinbase account holders or the public.
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Modveon is using Coinbase's payments infrastructure for Sivar, El Salvador's new community and payments app, per the Sept. 29, 2026 post.
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Eligible U.S. users can send money to verified recipients in El Salvador for a flat $2 fee per transfer, regardless of amount.
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Transfers can be funded from a debit card through Coinbase Onramp; each user gets a non-custodial wallet within the Sivar app.
Key timeline
Coinbase publishes the post announcing Modveon's use of its payments infrastructure for the Sivar remittance app.
Who may be affected
- Eligible U.S. users who choose to send remittances to verified recipients in El Salvador through Sivar.
- Verified recipients in El Salvador who cash out transfers through the listed locations.
- Salvadorans abroad and in El Salvador who rely on remittances, as described in the source's cited figures.
Impact analysis
The confirmed operational change is the described Sivar remittance flow: eligible U.S. senders fund transfers by debit card via Coinbase Onramp, transfers between verified users run on Coinbase APIs, and settlement occurs in stablecoins on Base, with cash-out at over 1,000 locations in El Salvador. The stated fee is a flat $2 per transfer regardless of amount. The source frames this as Modveon's first national deployment of its Verified Operating System, with Coinbase providing wallets, onramp, payment and transfer APIs, and stablecoin settlement. Nothing in the source states changes to Coinbase exchange trading, listings, account terms, or other Coinbase services, so readers outside the described sender and recipient roles are not assigned effects here.
What the announcement does not say
The source does not disclose eligibility criteria for U.S. senders, verification requirements for recipients, supported funding methods beyond debit card, cash-out limits or timing, availability dates beyond the publication date, or any fees beyond the stated $2 per transfer.
Risk notes
- The source does not describe asset safety, price, or liquidity effects, and none should be inferred from it.
- The post is informational and states it is not an offer or solicitation; Sivar is a Modveon product with Coinbase providing infrastructure.
- Details such as eligibility, verification, limits, and cash-out timing are not disclosed in the source.
- This article is for verifying official exchange announcements only and is not investment or trading advice.
- This article verifies official exchange announcements and does not constitute investment or trading advice.
This article is for information only and is not investment, legal, or tax advice. Digital assets are volatile and may result in loss of principal.
Frequently asked questions
Does this announcement require any action from existing Coinbase users?
No. The source describes a product launch and does not state any required action for Coinbase account holders or the general public.
What fee does the source state for Sivar remittances?
A flat $2 per transfer, regardless of the transfer amount, for eligible U.S. users sending to verified recipients in El Salvador.
How are transfers settled according to the source?
The source says transactions settle in stablecoins on Base, with peer-to-peer transfers between verified users powered by Coinbase APIs.
Does the source say when Sivar became available or list eligibility rules?
The source does not disclose a launch date beyond the Sept. 29, 2026 publication or specific eligibility criteria; it links to Sivar and Modveon for details.
Official sources
Collected material is used only for fact checking. If this page differs from the original announcement, the official page controls.