President Nayib Bukele and the Government of El Salvador Partner with Modveon to Launch Sivar, a Trusted Community and Payments App with $2 Flat-Fee Transfers from the U.S.

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeBusiness Wire News ReleasesPMN Press ReleasesThis section is The content in this section is supplied by Business Wire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Business Wire President Nayib Bukele and the Government of El Salvador Partner with Modveon to Launch Sivar, a Trusted Community and Payments App with $2 Flat-Fee Transfers from the U.S.Author of the article:Built by Modveon for El Salvador, Sivar advances President Bukele’s vision of using technology to expand democratic spaces and connect Salvadorans with institutions, businesses and one another. The app provides identity-verified accounts, community and institutional access, and a way for U.S. residents to send money to El Salvador for a $2 flat fee on any amount.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountSAN SALVADOR, El Salvador — Today, the Government of El Salvador and Modveon announced the national launch of Sivar, following the signing of a five-year agreement between Modveon and AAB, a Salvadoran public institution. Under the agreement, Modveon will develop, operate and expand Sivar and its digital services. Built for Salvadorans at home and abroad, as well as others connected to El Salvador, Sivar brings people closer to their communities, institutions and families.This advertisement has not loaded yet, but your article continues below.Sivar is a trusted platform built around verified people, communities, businesses and public institutions. Sivar is Modveon’s first national deployment of its proprietary Verified Operating System, a technology platform for verified identity, trusted connections and communities, modern payments and AI-powered services at national scale.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againSivar gives Salvadorans one place to follow verified updates, join national and hyperlocal communities, connect with others, participate in live conversations, and send money between the United States and El Salvador or within El Salvador.Sivar was refined during a phased pre-launch rollout involving more than 25,000 Salvadorans and incorporating real-world feedback. The national launch widens access and creates a direct feedback loop with citizens as Sivar expands participating institutions, businesses, services, communities and payments.“Sivar represents a new way to connect Salvadorans with their community and institutions. We want technology not only to facilitate access to information and services but also to strengthen trust, participation, and a sense of belonging.By placing identity and real-world communities at the center, we are creating a space where people can express themselves, share ideas, and build connections that transcend borders. This connection also includes the ability to send and receive money quickly, simply, and affordably, bringing Salvadorans abroad even closer to their families and communities in El Salvador.This is a step toward a more personal digital experience designed to meet the needs of Salvadorans, wherever they may be.”— Adriana Mira, Vice Minister of Foreign Affairs of the Republic of El SalvadorA trusted network, not an anonymous feedSivar verifies Salvadoran users through their official identity card, the Documento Único de Identidad (DUI).Verified users can post, join live conversations, vote in polls and send funds. Sivar combines identity verification, reporting tools, AI-powered content governance, automated detection and human review to reduce spam, abuse, fraud and misinformation.One country, many local communitiesSivar organizes communities at national, departmental, municipal and district levels. A verified address can connect users to relevant local communities, alongside public-interest communities and private groups.This advertisement has not loaded yet, but your article continues below.From public information to direct engagementOfficial announcements are separated from member posts. During major events or emergencies, Sivar Megathreads bring verified government updates and community posts into one place. Participating officials and community leaders can also host live town halls and engage directly with citizens.Alongside geography, Sivar hosts communities around shared interests and everyday needs, from education, sports and music to small business, traffic and school updates.Verified creators and Salvadoran businesses can build trusted presences in these communities, connecting directly with the people who follow, support and rely on them.“The internet scaled faster than trust. El Salvador chose to address this directly. With Sivar, we are building a digital future around trust. Community, communication and money belong together: they are how people connect, participate and support one another. Money is a form of connection too: it’s how people support family, help friends and stay connected across borders. That is why we are starting with something deeply practical: letting U.S. residents send money to people in El Salvador for a flat two dollars, no matter how much they send. More than twenty-five thousand Salvadorans helped shape Sivar before today’s launch, and this is only day one. Our ambition is for Sivar to evolve into El Salvador’s everyday digital platform and show what becomes possible when trust is built into a country’s digital infrastructure.”– Nana Murugesan, CEO and Co-Founder of ModveonSalvadorans abroad sent roughly $9 billion home in 2025 – about 92% of it from the United States. For the nearly 1.6 million Salvadorans living in households that receive these transfers, reducing the cost and time required to send money home is essential. Sivar extends El Salvador’s digital modernization into one of the most important financial relationships for Salvadoran families: the flow of money home from abroad.“Salvadorans send billions of dollars home every year, and too much of it disappears into fees. Bringing that cost down to a flat fee, settled in seconds, is exactly what modern payment rails were supposed to do. The economics work because the money moves digitally end to end, and that’s how every cross-border payment should work.”– Faryar Shirzad, Chief Policy Officer of CoinbaseThis advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Sivar is integrated with Coinbase, Modveon’s strategic payments infrastructure partner, whose venture arm, Coinbase Ventures, is also an investor in the company. Eligible U.S. senders can fund transfers through Coinbase Onramp and send digital dollars to any verified Sivar recipient, funded from a U.S. bank account or debit card. Transfers settle in a stablecoin on Base, the blockchain built by Coinbase, enabling fast, low-cost settlement.“Base is built to power payments at global scale. It’s inspiring to see a whole country like El Salvador build their payments future on onchain. This requires dependable throughput, fast-settlement, and low cost – all areas where Base delivers at scale today. We’re excited to partner with teams like Modveon to show the world what happens when money moves at internet speed.”– Jesse Pollak, Creator of BaseBuilt for national-scale deploymentSivar is built on Modveon’s Verified Operating System, with identity-first architecture, controlled permissions, encryption, multi-factor authentication, audit logging and continuous security monitoring.Planned development includes more participating institutions, additional public-service flows, AI-powered summaries, bill payment, merchant payments and citizen-to-government or government-to-citizen payments, subject to product, partner and regulatory availability.Modveon owns and develops the Verified Operating System, a technology platform combining verified identity, trusted connections and communities, modern payment infrastructure and AI-powered services for national-scale deployment. Sivar is Modveon’s first national deployment, operating under a five-year agreement with the Government of El Salvador that commenced this month. Sivar is free to download on iOS and Android. Headquartered in Palo Alto, California, Modveon was founded in 2025 and has raised $10 million from investors including AAB, Coinbase Ventures, Firebolt Ventures, Humla Ventures, Pulse Fund, and Strategic Cyber Ventures. Learn more about Modveon at modveon.com.View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.