El Salvador to Launch Government-Backed Stablecoin App Sivar on Coinbase’s Base

El Salvador is effectively layering a dollar-pegged stablecoin rail on top of the same Base network infrastructure that Coinbase is pushing as a consumer-friendly chain, which matters because it puts a sovereign government's identity system directly into a public blockchain app. The remittance angle is the real story: it targets a flow that has historically been expensive and slow, and using government-issued documents for verification gives the state a central role in onboarding. Whether this becomes a template for other governments experimenting with stablecoins, or stays a single-country pilot, is the open question worth watching.