According to CoinMeta, the digital dollar application Sivar jointly developed by the Salvadoran government and Modveon will be launched. It will support users in sending, receiving, and holding stablecoins pegged to the US dollar over the Base network of Coinbase, as well as supporting remittances. The application will verify users' identities through government-issued documents. This move comes five years after Bitcoin became the official currency of the country.