TREE NEWS update: Modveon has unveiled Sivar, a government-backed app for dollar transfers built on Base, using self-custodial wallets. The app charges a $2 cross-border processing fee, separate from funding and cash-withdrawal charges. The launch puts a state-linked payments product on a public blockchain network.
Modveon Launches El Salvador’s Sivar App for Dollar Transfers on Base
A government-backed remittance app settling on a public chain is a notable step in state adoption, since it treats blockchain rails as payments infrastructure rather than a speculative asset. The $2 cross-border fee is the competitive claim, and it lands directly against traditional remittance corridors where El Salvador's dollarized economy makes inflows a core household lifeline. The open question is whether self-custodial wallets and a public network hold up under real transaction volume, and whether other governments treat this as a template or a cautionary case.
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