Search results for Chivo wallet
Crypto
Coinbase-based Sivar launches for U.S.-El Salvador remittances at $2
Sivar, a stablecoin-based service supporting remittances between El Salvador and the United States, has launched nationwide. Modveon said it develops, operates and expands the service under a five-year contract with El Salvador public agency AAB. Coinbase provides the payments infrastructure, with transactions settled in stablecoins on Ethereum layer-2 Base. Remittances carry a flat $2 fee, with a $25 minimum. Accounts differ over direct government operation.
Crypto
IMF says El Salvador bitcoin increase came from private donations, not government funds
El Salvador’s increased bitcoin holdings after entering an International Monetary Fund financial support programme were obtained through private donations rather than government funds, the IMF said. It said verification of data submitted by Salvadoran authorities showed no additional purchases using public resources after the first review. The IMF also said control of the Chivo e-wallet was transferred to a private operator, and it expected no further bitcoin accumulation beyond confirmed donations.
Crypto
Five years on, was El Salvador\'s bitcoin legal tender experiment a failure?
Five years after El Salvador adopted bitcoin as legal tender, the expected benefits such as greater financial inclusion and lower remittance costs appear limited. Studies found usage concentrated among young, urban, educated men and existing bank users, while the government’s Chivo wallet did not significantly improve access for the unbanked. Bitcoin’s remittance share fell, and policy later retreated as the country agreed to IMF support and revised its bitcoin law.
