SoFi Technologies has announced it will become the first U.S. bank to integrate Bitcoin Lightning and Universal Money Address for international payments. Partnering with Lightspark, the bank will allow users to send U.S. dollars directly from the SoFi app, instantly convert them into Bitcoin, and route them across the Lightning Network. Recipients will receive funds in their local currency, deposited straight into their bank accounts.
Launching later this year with Mexico as the first corridor, the service targets the global remittance market, valued at $740.5 billion in 2024. SoFi CEO Anthony Noto said the feature offers a “meaningful improvement” in cost and convenience for members sending money to loved ones abroad.
Lightspark’s UMA system simplifies payments by using email-like addresses while leveraging Bitcoin’s Lightning speed and cost efficiency. With 11.7 million members, SoFi expects the service to provide 24/7 availability, transparent fees, and competitive exchange rates in cross-border transfers.
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