SoFi Could Become First US Bank to Use Bitcoin Lightning, Partnering With Lightspark for Remittance Service

• Low-cost, instant remittances via Bitcoin Lightning

• SoFi will convert USD to BTC in real time and route payments via UMA to recipient bank accounts.

• Market context: the global remittance market was valued at about $740.5 billion in 2024.

SoFi Bitcoin remittance: Send instant, low-cost cross-border payments via Lightning. Try it in the SoFi app—learn more inside.

What is SoFi’s Bitcoin remittance service and how does it work?

SoFi’s Bitcoin remittance service converts US dollars to Bitcoin in real time and routes funds across borders via the Bitcoin Lightning Network using Lightspark’s Universal Money Address (UMA). Recipients receive local-currency deposits directly to their bank accounts, with fees and exchange rates shown before sending.

How will SoFi use Lightspark’s UMA to enable instant transfers?

Lightspark’s UMA functions like an email-style address that maps to a Lightning-capable payment path. SoFi will integrate UMA into its app to route payments over Lightning rails, reducing settlement time to seconds and lowering costs compared with legacy remittance rails.

SoFi Technologies will leverage the Bitcoin network under a partnership with Lightspark to better compete in the $740 billion global remittance market.

Digital bank SoFi Technologies is set to become the first US bank to leverage the Bitcoin network and Universal Money Address — allowing Americans, Mexicans, and others to send money through the Lightning Network.

SoFi partnered with Bitcoin (BTC) payments infrastructure Lightspark to launch its blockchain-powered international money transfer service, which will go live later this year, starting in Mexico, SoFi said in an announcement on Tuesday.

“For many SoFi members who regularly send money to loved ones internationally, the ability to quickly transfer money at low cost isn’t just a convenience, it’s a meaningful improvement to their everyday financial lives,” SoFi CEO Anthony Noto said in a statement made public by SoFi.

According to Noto, users will be able to send money internationally directly from the SoFi app. The service competes in a crowded global remittance market, which was valued at around $740.5 billion in 2024 (market data).

SoFi + Lightspark = instant global payments. 🌍⚡

Send money abroad in seconds, right from the @sofi app, powered by UMA.

Coming soon for 🇺🇸→ 🇲🇽 with more countries to follow.

The future of global payments is here: pic.twitter.com/GFVq4KhoxF

— Lightspark (public post) August 19, 2025

How will UMA and the Lightning Network reduce costs and time?

UMA provides an identifier that simplifies routing over Lightning, cutting on-chain settlement steps. Lightning rails settle payments in seconds and have lower variable costs than bank transfers or legacy remittance rails. Faster settlement reduces float and foreign-exchange exposure for remitters.

What evidence supports Lightning adoption for remittances?

Lightspark reports and industry statements indicate growing Lightning usage. For example, a major exchange integration in 2024 saw 15% of its Bitcoin transactions move on Lightning rails via Lightspark within the first year, showing real-world demand for low-latency Bitcoin payments.

Frequently Asked Questions

Will recipients need crypto wallets?

No. Recipients receive funds as local-currency deposits to their bank accounts; no crypto custody is required on the receiving side.

What fees and exchange rates will apply?

SoFi says it will display applicable exchange rates and fees before users confirm transfers to ensure transparency; the company expects costs to be below the national remittance average.

Key Takeaways

• Innovation: SoFi integrates Lightspark’s UMA and Bitcoin Lightning to modernize remittances.
• Speed and cost: Lightning enables near-instant settlement and lower variable fees than many legacy rails.
• Accessibility: Recipients get local-currency deposits; no crypto wallet needed to receive funds.

Conclusion

SoFi’s partnership with Lightspark to deploy UMA over the Bitcoin Lightning Network represents a notable step toward mainstream, crypto-enabled remittances. The approach aims to deliver instant, transparent, and lower-cost cross-border transfers, starting with U.S. to Mexico corridors and expanding over time. Watch for rollout updates from SoFi as the service launches later this year.