According to CoinMeta, El Salvador is supporting a government application that allows citizens to send and hold digital dollars. This application is based on stablecoins, rather than Bitcoin. Five years ago, El Salvador’s president, Nayib Bukele, made the country the first to accept Bitcoin as legal tender. Now, it seems that the country is seeking to shift to a more stable form of cryptocurrency. The application is called Sivar and is developed by a startup company located in Palo Alto, Modveon. Payments are made through a blockchain network built on Coinbase, Base. In 2025, Salvadorans remitted nearly $10 billion to their homeland, with about 92% of that coming from the United States. Sivar charges a fixed fee of $2 per transaction to US users.