SoFi Technologies partners with Lightspark to launch a blockchain-powered international money transfer service, becoming the first US bank to leverage the Bitcoin network and Universal Money Address. Users can send money internationally directly from the SoFi app, competing in a $740.5 billion global remittance market. Service to start in Mexico.

SoFi’s new UMA-powered service allows customers to convert US dollars into Bitcoin in real-time and transfer funds across borders via the Bitcoin Lightning network. Costs will be below the national average, with transparent exchange rates and fees. Service available 24/7 for SoFi’s 11.7 million members.

Coinbase integrated Lightspark’s Bitcoin infrastructure last year, enabling instant, low-cost transfers with strong adoption – 15% of Bitcoin transactions on Coinbase now move on Lightning rails via Lightspark.

Brazilian neobank Nubank partnered with Lightspark in 2024 to offer Bitcoin Lightning payments to its 100 million Latin American customers, but full integration has not been confirmed yet.

Read more at Cointelegraph: SoFi To Become First US Bank To Integrate Bitcoin Lightning