[El Salvador is collaborating with Modveon to develop an official stablecoin payment application based on Base] According to Foresight News, citing Bloomberg, five years after adopting Bitcoin as legal tender, El Salvador is shifting to a dollar-backed stablecoin due to limited adoption for everyday payments. The Salvadoran government is currently working with Modveon to develop an official application based on Base, allowing citizens to send and hold digital dollars, primarily for remittance scenarios.