San Francisco, August 19, 2025 – San Francisco fintech giant SoFi (NASDAQ: SOFI) will launch a new money transfer program enabling members to make money transfers directly from the SoFi app. Partnering with Lightspark, the firm will harness blockchain technology to deliver faster, cheaper, and more transparent cross-border payments.
A Blockchain-Backed Remittance Service
Through this partnership, SoFi is one of the first U.S. banks to introduce a blockchain-powered remittance platform. The service will be powered by Lightspark’s Universal Money Address (UMA), an open payments standard on blockchain using Bitcoin’s Lightning Network to securely and instantaneously transfer funds across borders.
SoFi CEO Anthony Noto clarified:
“For members who send money internationally, lower costs and faster transfers make a real difference in their financial lives. By embedding this feature into the SoFi app, we’re giving members smarter, more inclusive access to their money through blockchain technology.”
Lightspark CEO David Marcus added:
“Digital banks are adopting UMA because it’s fast, secure, and cost-efficient. With UMA on SoFi, customers can move dollars instantly, anytime, worldwide.”
How It Works
Members transfer money directly from the SoFi app.
U.S. dollars are converted to Bitcoin in real-time.
Funds are sent via the Bitcoin Lightning Network.
Bitcoin is converted to the destination currency instantly and deposited directly into the receiving bank account.
This bypasses intermediaries, reducing fees and making transfers 24/7 like legacy remittance services.
Launch Details
The new service is launching later in 2025, with Mexico being the initially supported location. Further countries will be supported in phases. SoFi highlights that its foreign transfer fees will be below the U.S. national average, with complete disclosure of exchange rates and fees before confirming transactions.
The reward will be provided through SoFi Checking & Savings, regulated by SoFi Bank, N.A., Member FDIC. Members have previously been able to join an early access waitlist.
About SoFi
SoFi Technologies is a web-based financial services platform with more than 11.7 million members. The company provides borrowing, saving, investing, and insurance products within a single app. SoFi also propels fintech development through its provision of fintech firms with its Galileo platform, catering to more than 160 million accounts worldwide.
About Lightspark
Lightspark is building the next-generation payment infrastructure on top of Bitcoin, the world’s sole open and neutral value exchange network. Its enterprise offerings — Connect, UMA, and Spark — provide instant, secure, and low-cost payments across borders.
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