El Salvador Shifts Focus to Stablecoin-Based Government App

El Salvador is promoting a new government-backed app, Sivar, which utilizes stablecoins rather than $BTC for daily transactions. Developed by Palo Alto startup Modveon and powered by Coinbase's Base network, the app aims to facilitate remittances. This move follows a 2025 IMF loan agreement that ended the mandatory status of $BTC in the country, as adoption remained low with only 1.75% of remittances flowing through crypto wallets in previous years.