The government of El Salvador has introduced a new application designed to enable citizens to hold and transfer digital dollars. The platform utilizes the Base network, a blockchain infrastructure developed by Coinbase, to facilitate these transactions.
This initiative complements the existing Chivo Wallet, which currently allows for commission-free transactions in both US dollars and Bitcoin. The primary objective of the new app is to streamline the process of sending remittances, which represent a critical component of the national economy.
El Salvador maintains a long-term strategy of integrating cryptocurrency technologies into its financial system. Bitcoin has held the status of legal tender in the country since 2021, and the government continues to expand the digital payment infrastructure to support broader adoption.
