El Salvador Bitcoin Office Denies Government Backing for Sivar Stablecoin App

The denial matters because it separates a private, dollar-denominated payments play from El Salvador's official Bitcoin agenda — a distinction that shapes how the country's crypto policy is read abroad. Coinbase's involvement and Base settlement give Sivar institutional weight regardless of the government's position, while the reported pre-launch sign-ups suggest real remittance demand. Whether Sivar's adoption holds without state endorsement, and whether the Bitcoin Office's denial cools exchange-backed projects in the country, is the open question.